Incorrect statement is
Ox. state is an assumed charge on atom using orbitrary rules. It is not a real concept.
Valency is a real concept which indicates the no. of electrons involved in the reaction.
Nitrogen due to non-availability of d-orbitals can not show penta valency Ex: NCl5 can not exist
But 'N' can show an oxidation state of '+5' Ex: N2O5.