REPORT BANKS REFUSING OLD NARIA DEPOSITS

Charles Soludo

The Central Bank has instructed commercial banks to give out old currency notes and to accept same as 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.

Banks have been instructed to dispense old currencies and receive them from depositors, according to CBN Governor Godwin Emefiele, who spoke to Gov. Soludo.

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.

Signed

C. C. Soludo CFR.

Governor, Anambra State.