According to Governor Soludo, the Governor of the Central Bank of Nigeria, Godwin Emefiele has instructed banks to distribute old banknotes and accept them from customers who wish to deposit them.

In a statement published on his Facebook page early on March 13, Anambra state Governor Charles Soludo revealed that he received confirmation from the Governor of the Central Bank of Nigeria, Godwin Emefiele, via phone on Sunday, March 12, that banks have been instructed to distribute old currency notes and accept them as deposits from customers.

Governor Soludo further stated that the directive was issued by Emefiele during the Bankers Committee meeting on the same day.

‘’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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