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Naira Crisis: CBN authorizes use of old notes

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NAIJA NEWS: Naira Crisis: CBN authorizes use of old notes [New Naija News] » Naijacrawl
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The Governor of Anambra State, Prof.



Charles Soludo, confirmed on Monday that the Central Bank of Nigeria has asked commercial banks to dispense and accept old naira notes as deposits.

The Daily Post reports that Soludo, a former CBN governor, made this known in a statement he posted on his social media handles.

He explained that the Governor of CBN, Godwin Emefiele, gave the directive at a Banker’s Committee meeting on Sunday.

He added that Emefiele personally confirmed the directive to him.

According to him, residents should report banks refusing to accept the old notes.

“Commercial banks have been directed by the Central Bank to dispense old currency notes and also to receive the same 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, 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) and the new notes”, the statement contained.

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Ojo Sunday Victor, A Professional Graphics Designer, and a skilled Content Writer in Entertainment, News and Sport Update.!An Undergraduate in Ladoke Akintola University of Technology (LAUTECH, Ogbomoso). Read More

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Breaking: CBN Extends Old Naira Use Deadline Till February 10

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NAIJA NEWS: Breaking: CBN Extends Old Naira Use Deadline Till February 10 [New Naija News] » Naijacrawl
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CBN Governor, Godwin Emefiele, announced the extension in a statement signed on Sunday.He explained that the apex bank has sought approval from President Muhammadu Buhari to extend the deadline for the use of the old notes by 10 days.“Based on the foregoing, we have sought and obtained Mr President’s approval for the following: A 10-day extension of the deadline from January 31 to February 10 to allow for the collection of more old notes legitimately held by Nigeri...
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Old & New Notes Remain Legal Tender - CBN

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NAIJA NEWS: Old & New Notes Remain Legal Tender - CBN [New Naija News] » Naijacrawl
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The Central Bank of Nigeria has instructed all its branches nationwide to continue issuing various denominations of both old and redesigned banknotes in ample quantities to deposit money banks.The apex bank disclosed this in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, and posted on its X handle on Wednesday.This comes in response to reports of cash shortages in major cities, despite earlier assurances from the CBN about sufficient c...
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Naija News

CBN orders banks to start collecting old 500 & 1000 Notes

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NAIJA NEWS: CBN orders banks to start collecting old 500 & 1000 Notes [New Naija News] » Naijacrawl
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Sequel to the long queue being experienced at the Central Bank of Nigeria branches nationwide, the CBN has ordered banks to start collecting the old N500 and N1,000 notes from the public with immediate effect.It however pegged the maximum amount the banks can collect at N500,000.The CBN maintained that the old currencies were still no more legal tender.A source from the bank said the CBN ordered the banks to collect the monies instead of going to the CBN office foll...
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