Anambra State Governor, Professor Charles Soludo has asked residents of the state to report any bank that rejects the old naira notes.
Two weeks ago, the supreme court invalidated the naira redesign policy introduced by the Central Bank of Nigeria (CBN), citing defective timing and implementation.
In a statement on Monday, Soludo, a former CBN Governor, said the apex bank has directed commercial banks to dispense and accept the old naira notes from the public.
He stated that the CBN Governor, Godwin Emefiele confirmed the directive personally to him in a phone conversation, after meeting with the Bankers’ Committee over the weekend.
“Anambra state government will not only report such a bank to the CBN but will also immediately shut down the defaulting branch,” Soludo stated.
“Commercial banks have been directed by the central bank to dispense old currency notes and to also receive same as deposits from customers,” the governor said.
“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.”
Despite the apex court’s ruling, there are reports that banks are refusing to accept deposits of the old currency notes.