CBN Directs Commercial Banks To Dispense And Receive Old Naira Notes

In Breaking News, Business & Economy

By Nwuese Igonor, AIT

Commercial banks have been directed by the Central Bank of Nigeria to dispense old currency notes and to also receive the 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.

Emefiele, gave the directive at a Bankers’ Committee meeting held on Sunday, 12th March 2023. 

The Governor confirmed the directives to Anambra State Governor Charles Soludo during a phone conversation on Sunday night. He said residents of Anambra state 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.

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