Finally, CBN Directs Nigerian Banks To Accept Old Naira Notes

CBN has finally directed Nigerian Banks to accept Old Naira Notes.

Newsone reports that the governor of Anambra State, southeast Nigeria, and former CBN Governor, Prof Charles Soludo, on Monday, March 13, 2023, confirmed that the Central Bank of Nigeria has asked commercial banks to dispense and accept old naira notes as deposits.

This online news platform understands that Professor Soludo, a former CBN governor, made this known in a statement he posted on his social media handles on Monday, March 13, 2023.

Newsone Nigeria reports that the Anambra Governor explained that the Governor of CBN, Godwin Emefiele gave the directive at a Banker’s Committee meeting on Sunday, March 12, 2023.

Governor Soludo, who revealed that CBN Governor Emefiele personally confirmed the directive to him, called on Anambra residents to report Nigerian banks refusing to accept the old notes.

The former CBN Governor tweeted: “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.

Tellers at the 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.

— Chukwuma Charles SOLUDO (@CCSoludo) March 13, 2023

“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 contained.

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

Residents should report any bank that refuses to accept deposits of the old notes.

— Chukwuma Charles SOLUDO (@CCSoludo) March 13, 2023

Meanwhile, Newsone reports that the revelation by Governor Soludo is coming after the Supreme Court of Nigeria, on Friday, 3 March 2023, ordered that old N200, N500, and N1,000 notes remain in circulation till December 31, 2023.