You are here: HomeBusiness2023 03 13Article 636809

Business News of Monday, 13 March 2023


'I called Emefiele to confirm' - Soludo urges Anambra residents to accept old naira notes

CBN Governor, Godwin Emefiele and Anambra Governor Charles Soludo CBN Governor, Godwin Emefiele and Anambra Governor Charles Soludo

Governor Chukwuma Soludo of Anambra State has confirmed that the Central Bank of Nigeria has directed that banks dispense and accept old naira notes.

The former CBN Governor made this known in a Facebook message on Monday, March 13 as he urged residents to transact with old naira notes and report any banks that refuse to accept them.

Punch reports that Soludo also said that the Central Bank also confirmed that there is no deposit or withdrawal limit for an individual or company.

Soludo confirmed that the directive was given at a Bankers' Committee meeting held on Sunday, March 12, 2023, and was personally confirmed by Emefiele during a phone conversation with him.

His Facebook post reads: “Commercial banks have been directed by the Central Bank to dispense old currency notes and to also receive the same as 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) as well as the new notes.

“Residents should report any bank that refuses to accept deposits of the old notes. The Anambra State Government will not only report such a bank to the CBN but will also immediately shut down the defaulting branch.”