CBN issues new directives on old Naira notes

Godwin Emefiele
CBN Governor Godwin Emefiele

The Governor of Anambra State, Prof Charles Soludo has said that the Central Bank of Nigeria has asked commercial banks to dispense and accept old naira notes as deposits.

Though the development has not been confirmed by the CBN yet, Soludo, a former CBN governor, posted on his social media handles that the Governor of CBN, Godwin Emefiele gave the directive at a Banker’s Committee meeting on Sunday.

He also disclosed that Emefiele personally confirmed the latest directive by the CBN to him.

He urged residents of Anambra State to report anyone going contrary to the new directive.

“Commercial banks have been directed by the Central Bank 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, personally 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 said..