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CBN recirculates old mutilated N200 notes

The Central Bank of Nigeria (CBN) has confirmed it has released more N200 notes to banks to dispense to members of the public.

But the apex bank was silent on how much of the N200 banknotes it released.

However, most of the N200 released to the banks are old mutilated notes collected from the public at the peak of the cash swap programme.

A staff of the CBN told The Nationthe volume of N200 notes in circulation has increased following last week’s directive by President Muhammadu Buhari that the banknote be re-circulated.

The staff, who refused to be named because he is not authorised to speak, said “both old and new N200 notes were released into the system over the weekend”.
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