By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Democracy NewslineDemocracy Newsline
  • Home
  • Politics
    Politics
    Show More
    Top News
    In Rivers, Asíwájú Tinubu harps on unity, non-violence
    1 month ago
    WE’LL VOTE YOU WILL WIN – AREA COUNCIL ASSURES LEKE OF REELECTION VICTORY
    2 months ago
    Saturday’s Poll: Siakpere urges Deltans to vote PDP Candidates
    1 month ago
    Latest News
    PDP Supporters Besiege INEC Office in Jos
    8 hours ago
    ANTI-PARTY ACTIVITIES: KABBA BUNU LG LEGISLATIVE COUNCIL SUSPENDS VICE CHAIRMAN, TWO OTHER COUNCILORS
    10 hours ago
    Vote Massively For Yomi Awoniyi – Kogi West Youth Appeals To Delegates
    5 days ago
    Inconclusive Elections: Why Kabba/Bunu/Ijumu Constituency can’t be Treated in Isolation
    1 week ago
  • Technology
    TechnologyShow More
Reading: BREAKING: CBN Gives Banks New Directive on Old Naira Notes
Share
Notification Show More
Latest News
Nigeria, ‘the Giant of Africa’, will bounce back in glory
News
PDP Supporters Besiege INEC Office in Jos
Politics
ANTI-PARTY ACTIVITIES: KABBA BUNU LG LEGISLATIVE COUNCIL SUSPENDS VICE CHAIRMAN, TWO OTHER COUNCILORS
Politics
Certificate of Returns: Okpe Union, UK congratulates Oborevwori
News
Plateau; APC Condemns Attacks On President Court Of Appeal, Justice Monica Dongban
News
Aa
Democracy NewslineDemocracy Newsline
Aa
  • Economics
  • Politics
  • Business
  • Science
  • Technology
  • Home
  • Politics
  • Technology
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 Democracy Newsline All Rights Reserved.
Democracy Newsline > News > Business > BREAKING: CBN Gives Banks New Directive on Old Naira Notes
Business

BREAKING: CBN Gives Banks New Directive on Old Naira Notes

Democracy Newsline
Last updated: 2023/03/13 at 8:24 AM
Democracy Newsline 2 weeks ago
Share
SHARE

BREAKING: CBN Gives Banks New Directive on Old Naira Notes

The Central Bank of Nigeria (CBN) has asked commercial banks to dispense old Naira notes and to also receive the same as deposits from customers.

The Governor of the CBN, Godwin Emefiele gave the directive at a Bankers’ Committee meeting held on Sunday, March 12, 2023.

According to the directives, 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.

Confirming the development on Monday morning, March 13, 2023, Anambra state Governor, Charles Soludo said; “Emefiele personally confirmed the above to me during a phone conversation on Sunday night”.

The Governor asked residents of Anambra State 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,” Governor Soludo added in his statement.

This is coming a week after the Supreme Court ruled that the use of old 200, 1,000, and 500 naira notes are to remain valid till December 31, 2023.

But the silence of the Federal Government and CBN on the ruling had made traders reject the old currencies despite the fact that some banks are reportedly dispensing the old notes to customers.

You Might Also Like

PERSONS AND BUSINESSES THAT REJECT OLD NAIRA NOTES WILL BE APPREHENDED AND PROSECUTED – KOGI GOVT

Supreme Court ruling and my observations on CBN “Currency Redesign” policy

Tinubu hails Nigerian Governors over Supreme Court ruling on CBN Naira Swap policy

Democracy Newsline March 13, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp Telegram Email
Previous Article WHY TINUBU SHOULD PICK CHRISTIANS AS CHIEF OF STAFF AND SGF- By Nuhu Ibrahim Bunu
Next Article Disobeying court order is an invitation to anarchy-Kogi Labour Party Chieftain Averehi warn INEC
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

  • Advertise

Find Us on Socials

© Foxiz News Network. Ruby Design Company. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?