What CBN Governor, Emefiele Told Me About Old Naira Notes — Charles Soludo

Anambra State Governor, Charles Soludo claims the Central Bank of Nigeria (CBN) has directed commercial banks to dispense and accept old naira notes from customers.

Soludo, who disclosed this in a statement on Monday, said the CBN Governor, Godwin Emefiele confirmed the directive personally to him in a phone conversation after meeting with the Bankers’ Committee over the weekend.

The governor, therefore, urged residents to transact with the old naira notes and report any bank or business outfits who refuse to accept it in Anambra.

He wrote: “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, 12 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.”

This comes two weeks after the Supreme Court invalidated the naira redesign policy introduced by the CBN, citing a defective timing and implementation.

The court in a suit instituted by three states of the federation, held that the old N200, N500 and N1000 notes remain legal tender until December 31, 2023.