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CBN Directs Bank To Pay And Receive Old Naira Notes



CBN, the Central Bank Of Nigeria, has directed commercial banks to issue old and new currency notes and to also receive same as deposits from customers.

CBN further directed that 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 Godwin Emefiele gave the directive at a Bankers’ Committee meeting held on Sunday, 12th March, Abuja.

Read More:CBN Have Ordered Banks To Dispense And Accept Old Naira Notes -Soludo

This directives is in compliance to the Supreme Court ruling on 3rd March 2023 where it nullified the naira redesign policy embarked on by the CBN and directed that the old N200,N500, N1000 to be in circulation with the new notes till 31th December 2023.

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