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CBN Has Directed Banks To Accept And Dispense Old Naira Notes–Soludo

1- SOLUTION OF THE GOVT. 1. A SPECIAL PUBLIC NOTIFICATION The Central Bank has instructed commercial banks to distribute old currency notes and accept them as customer deposits.

2. Tellers at commercial banks are responsible for creating the codes for deposits; individuals and businesses are free to make deposits at any time.

The directive was issued by the CBN Governor at a meeting of the Bankers’ Committee on Sunday, March 12, 2023.

3. During a Sunday night phone call, Emefiele, the Governor, personally confirmed the aforementioned. As a result, Anambra residents are encouraged to freely accept and use the old currency notes (N200; N500; and N1,000), in addition to the new bills.

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4-Any bank that refuses to accept deposits of the old notes should be reported by residents. In addition to reporting the bank to the Central Bank of Nigeria (CBN), the Anambra State Government will immediately close the bank’s defaulting branch.

C. C. Soludo CFR was signed.

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