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On Monday, Prof. Charles Soludo, the governor of Anambra State, revealed that the Central Bank of Nigeria has instructed commercial banks to accept and issue old naira notes as deposits.

Soludo, a former CBN governor, reportedly announced this in a statement he put on his social media accounts.

He clarified that the instruction was given at a Banker’s Committee meeting on Sunday by CBN Governor Godwin Emefiele.

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Emefiele personally verified the order to him, he continued.

Residents should notify banks that are refusing to take the old currencies, he said.

The Central Bank has instructed commercial banks to give out old currency notes and accept the same deposits from clients. Deposit codes are generated by tellers at commercial banks, and there is no cap on the number of times an individual or business can deposit money.

“The CBN Governor issued the order at a Bankers’ Committee meeting on March 12, 2023, on Sunday. On a phone call with me on Sunday night, the governor, Dr. Godwin Emefiele, personally corroborated the information above. The old currency notes (N200, N500, and N1,000) and the new notes should be freely accepted and used for commercial transactions by Anambra residents, the statement suggested.

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