…as state governors keep mounting pressure

…Obaseki, others weighing in

By Bill Okonedo

Anambra State governor, Professor Charles Soludo, says that the governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele has confirmed to him that the old N500 and N1,000 naira notes remain legal tender and as such should continue to be used for transactions by the general public and deposit money banks.

“The governor of the CBN gave the directive at a Bankers’ Committee meeting held on Sunday, 12th March 2023. The Governor, Godwin Emefiele, personally confirmed the above to me during a phone conversation on Sunday night,” said Soludo.

This is as state governors across the country have been continuing in their bid to get businesses and the general publics to accept the old N500 and N1,000 previously invalidated by the Central Bank of Nigeria (CBN) and later revalidated by the country’s Supreme Court.

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Speaking on Monday, Anambra governor, Soludo said:“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 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.

“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.”

Edo State Governor, Mr. Godwin Obaseki, at a meeting members of the transport unions on Friday urged Edo residents to accept and trade with the old N500 and N1,000 notes in line with the Supreme Court judgement on the matter, as they remain legal tender till December 2023.

Speaking through Chris Nehikhare, the state’s Commissioner for Communication and Orientation, Governor Obaseki urged the people of Edo to accept the old naira notes in order to boost trade and economic activities in the state.

He said, “With the Supreme Court judgement, the controversy over the circulation of the notes had been put to rest and the people are urged to accept and trade with the notes.