Soludo orders use of old naira notes in Anambra, warns banks

Tony Okafor, Awka

The Anambra State Governor, Prof Chukwuma Soludo, has ordered the use of old naira notes across the state.

He warned that any bank in the state that would default would be shut down.

The governor said his decision was informed following his telephone discussion with the Central Bank Governor, Dr Godwin Emefiele on Sunday who confirmed the that old N500, N1000 notes remained legal tender.

Soludo said, "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 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."