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The Governor of Central Financial institution of Nigeria (CBN), Godwin Emefiele, has okayed using previous naira notes within the nation, Governor Charles Soludo of Anambra State mentioned on Monday.
The CBN had final December launched new N200, N500, and N1000 notes, which led to the withdrawal of the previous notes from circulation.
This coverage resulted in widespread chaos throughout the nation, with protests erupting in varied areas as Nigerians confronted difficulties doing enterprise and making money funds in every day transactions.
Final Friday, the Supreme Courtroom dominated that the CBN should prolong using previous banknotes till 31 December as a result of unfavorable influence of the coverage.
A seven-member panel of the court docket, led by John Okoro, unanimously ordered the CBN to proceed receiving the previous notes from Nigerian residents.
Because the court docket ruling, the CBN and the Nigerian authorities haven’t reacted to the brand new growth.
In consequence, many Nigerians have continued to reject the previous naira notes for transactions.
However in a press release on Monday, Mr Soludo mentioned the CBN governor has directed industrial banks to dispense and obtain previous naira notes from clients, and that there is no such thing as a restrict to the variety of instances a person or firm could make deposits with the previous notes.
“The governor of the CBN gave the directive at a Bankers’ Committee Assembly held on Sunday on twelfth March, 2023. The Governor, Dr Godwin Emefiele, personally confirmed the above to me throughout a telephone dialog on Sunday evening,” Mr Soludo mentioned within the assertion which was additionally posted on his verified Fb web page.
The governor requested residents of the state to “freely settle for and transact” their companies with the previous naira notes of N200, N500, and N1000 alongside the brand new notes.
He enjoined the residents to report any financial institution within the state that refuses to simply accept deposits of the previous notes, and threatened to close down such banks.
“Anambra State Authorities is not going to solely report such a financial institution to the CBN, however may even instantly shut down the defaulting department,” he said.
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