Breaking: CBN gives out old Naira notes to bank for Nigerian to circulate

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According to report, commercial banks have been instructed by the Central Bank of Nigeria (CBN) to give out old Naira notes and accept same-value deposits from customers.

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 instruction was given at a Bankers’ Committee meeting on Sunday by CBN Governor Godwin Emefiele.

Emefiele “personally confirmed the above to me during a phone conversation on Sunday night,” according to the governor of Anambra State.

The governor urged Anambra State residents to freely accept and conduct business using both the new notes and the older ones (N200, N500, and N1,000).

Any bank that won’t accept deposits of the old notes should be reported by the locals. In addition to reporting such a bank to the CBN, the Anambra State Government will also immediately close the defaulting branch, said Governor Soludo in his statement.

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