Reports from the venue of the All Progressives Congress (APC) presidential rally in Lagos reveals that businesses were being transacted at the grounds with the old N500 and N1000 naira banknotes.
Naija News gathered that some traders were accepting old naira notes at the Teslim Balogun Stadium in Lagos while the APC rally is on course.
According to some of the traders who spoke with The Nation, they had no choice but to accept it because the new notes are not in circulation for use.
They said collecting old notes from customers was the only way they could cushion the suffering of people resulting from the cash crunch and those who still have the old notes. 
It was gathered that supporters and party faithful who were sighted patronising the traders at the rally grounds were excited.
Their continuous acceptance of the old notes goes against a directive by President Muhammadu Buhari last week that the N500 and N1000 naira banknotes would no longer be accepted as legal tender.
CBN Speaks On Issuing Fresh Directive On Old Naira Notes
The Central Bank of Nigeria (CBN) has distanced itself from a fake statement ordering the distribution of old 1000, and 500 naira notes.
Naija News reports that social media has been awash with reports that the apex bank announced plans to recirculate old 1000 and 500 naira notes. The fake report claimed that President Muhammadu Buhari had directed the CBN to carry out the recirculation after a closed-door meeting.
But in a swift statement on Tuesday morning, CBN’s Director of Corporate Communications, Osita Nwanisobi, described the statement as fake.
The statement reads: “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorised messages quoting the CBN as having authorised the Deposit Money Banks to collect the old N500 and ₦1,000 banknotes.
“For the avoidance of doubt, and in line with Mr President’s broadcast of February 16, 2023, the CBN has been directed to only reissue and recirculates the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.
“Members of the public should therefore disregard any message and/or information not formally released by the Central Bank of Nigeria on this subject.
“Media practitioners are advised to please verify any information from the correct sources before publication.”
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