Anambra state governor, Charles Soludo, says the governor of the Central Bank of Nigeria, Godwin Emefiele, on Sunday, March 12, confirmed to him via phone that banks have been directed to dispense old currency notes as well as receive the same as deposits from their customers. The governor disclosed this in a statement published on his Facebook page in the early hours of today March 13.

According to Governor Soludo, the CBN governor gave the directive at the Bankers Committee meeting on Sunday, March 12. His post reads

‘’Commercial banks have been directed 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.”