Caution as Soludo claims CBN has directed banks to dispense, accept old naira notes




The Central Bank of Nigeria (CBN) has reportedly ordered commercial banks to start dispensing and accepting old N200, N500, and N1,000 notes from customers across the country.


THE CONCLAVE reports that the piece of news is being treated with caution for not coming directly from the Central Bank of Nigeria, CBN.


The information was curiously disclosed by the Anambra State Governor, Chukwuma Soludo, in a statement issued on Monday.


THE CONCLAVe reports that Soludo, a former CBN governor, is not the spokesperson of the apex regulatory bank.


But Soludo claimed in the statement that the CBN Governor, Godwin Emefiele, confirmed to him on Sunday night that commercial banks had been directed to dispense and accept old denominations from customers.


THE CONCLAVE further reports that Nigerians are expecting an official statement from the CBN that categorically speaks to the issue so as to clear the confusion in the polity on the validity of the old N500 and N1000 notes.


Soludo, who vowed to shut down any bank bank rejecting old naira notes in Anambra State, said: “Commercial banks have been directed by the Central Bank to dispense old currency notes and to also receive same as deposits from customers.


“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. 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. Anambra State Government will not only report such a bank to the CBN but will also immediately shut down the defaulting branch,” Soludo stated.


But THE CONCLAVE reports that a formal statement confirming Soludo ‘s claim will be salutary to clearing the lingering confusion.

Leave a Reply