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Soludo Reveals What CBN Gov. Told Him About Old Naira Notes | READ DETAILS

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Soludo Reveals What CBN Gov. Told Him About Old Naira Notes | READ DETAILS

The Anambra state governor, Professor Chukwuma Soludo on Monday said that the Central Bank of Nigeria (CBN), has directed commercial banks to issue and receive deposits of the old naira notes.


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Soludo in a statement he personally signed, stated that the CBN governor, Godwin Emefiele confirmed the directive to him during a phone conversation on Sunday.

According to Soludo who is a former governor of CBN, “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 charged Anambra residents to transact with the old and new naira notes and also report any bank which refuses deposits of the old notes.

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The governor wrote;

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.

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