The Central Bank of Nigeria (CBN) has debunked reports that it planned to phase out the newly redesigned 1, 000, 500 and 200 naira notes.

The apex bank clarified this on its social media platforms in a statement by its Acting Director, Corporate Communications, Dr Isa AbdulMumim.

According to him, such speculation is unfounded and a ploy by some interests to cause panic among members of the public.