Bowing to pressure and the judgement of the Supreme Court, the Central Bank of Nigeria (CBN) has ordered commercial banks to receive and dispense old 500 and 1000 naira notes from customers.
This was made known by the former governor of the apex bank and incumbent governor of Anambra State, Charles Soludo.
According to Soludo 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.
Soludo made it known that the CBN Governor issued 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) as well as the new notes,” Soludo added.
He called on residents to 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.”
*SPECIAL PUBLIC ANNOUNCEMENT*
Commercial banks have been directed by the Central Bank to dispense old currency notes and to also receive same as deposits from customers.
— Chukwuma Charles SOLUDO (@CCSoludo) March 13, 2023
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, Dr Godwin Emefiele, personally confirmed the above to me during a phone conversation on Sunday night.
— Chukwuma Charles SOLUDO (@CCSoludo) March 13, 2023
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
Anambra State Government will not only report such a bank to the CBN, but will also immediately shut down the defaulting branch.
Signed
C. C. Soludo CFR.
Governor— Chukwuma Charles SOLUDO (@CCSoludo) March 13, 2023
The apex bank is yet to make an official statement as of the time of filing this report.
