Finally, CBN Orders Banks To Pay, Receive Old Naira Notes

Prof Charles Soludo, Governor of Anambra State, announced on Monday that the Central Bank of Nigeria, CBN has directed commercial banks to accept and disburse old naira notes as deposits.

According to ABN TV, Soludo, a former CBN governor, stated this in a statement posted on his social media accounts.

He explained that the decision was issued by CBN Governor Godwin Emefiele at a Banker’s Committee meeting on Sunday.

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He said that Emefiele had confirmed the directive to him.

Residents, he says, should denounce institutions that refuse to take the old notes.

“The Central Bank has directed commercial banks to dispense old currency notes and also to receive the same deposits from customers. 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, 12th March 2023. The Governor, Dr. Godwin Emefiele, confirmed the above 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 (N200, N500; and N1,000) and the new notes”, the statement contained.