CBN Directs Banks to Dispense Old Naira Notes Former CBN Governor Soludo

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Chukwuma Soludo, the executive governor of Anambra state and Former CBN Governor , has revealed that the apex bank has directed Nigerians to begin to use old N200, N500, and N1,000 bills for their transactions alongside their newly designed counterparts.

Soludo, in a statement he personally signed, said Dr Godwin Emefiele, the CBN Governor, had personally confirmed the development to him in a phone conversation on Sunday night after a Bankers’ Committee meeting.

The Anambra governor directive was a sequel to CBN’s directive to Commercial banks to dispense and to also receive old currency notes as deposits from customers.

According to him, tellers at commercial banks are to generate the codes for deposits and there is no limit to the number of times an individual or company can make deposits.

“The Governor of the CBN gave the directive at a Bankers’ Committee meeting held on Sunday.

“The CBN Governor, Dr Godwin Emefiele, personally confirmed this development to me during a phone conversation on Sunday night.

“Residents of Anambra are therefore advised to freely accept and transact their businesses with the old currency notes, including N200; N500; and N1,000 as well as the new notes,” he said.

Soludo said Anambra residents should report any bank that refuses to accept deposits of the old notes.

“Anambra State Government will not only report such a bank to the CBN but will also immediately shut down the defaulting branch,” he said. # Soludo Directs Anambra Residents to Trade with Old Naira Notes

CBN Directs Banks to Dispense Old Naira Notes Former CBN Governor Soludo was first posted on March 13, 2023 at 12:26 pm.
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