News
BREAKING: CBN Directs Banks To Collect Old N1,000, N500- Soludo
Residents should report any bank that refuses to accept deposits of the old notes.
The Central Bank of Nigeria, CBN, has directed all commercial banks to collect the old N500 and N1,000 notes.
The CBN governor, Godwin Emefiele, gives the directive at Bankers’ Committee meeting held on Sunday, 12th March 2023.
In a statement signed by the Anambra State Governor, Charles Soludo said the CBN governor has directed commercial banks to collect the old N500 and N1,000.
The statement read: “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 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.
Mr Soludo added that 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.