Soludo Threatens to Shut Down Banks That Reject Old Naira Notes in Anambra

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By Izunna Okafor, Awka

Anambra State Governor, Prof. Charles Chukwuma Soludo has threatened to shut down any bank that refuses to dispense or accept deposits of old Naira notes in the state.

The Governor gave the threat in statement issued to newsmen on Sunday, in which he revealed that the Central Bank of Nigeria (CBN) had issued a directive to commercial banks to dispense and accept deposits of old currency notes.

According to the Governor, the residents of the state should not hesitate to report any bank that refuses to accept or dispense the old Naịra notes in the state henceforth. He said the State Government will not only report such a bank to the CBN, but will also immediately shut it down, upon the receipt of such report.

The statement reads, “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.”

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