CBN Clears Air on Charles Soludo Statement as Banks Continue to Reject Old Naira Notes
- CBN has given a reply to Anambra state governor Chukwuma Soludo's statement on old naira notes acceptance by banks
- Soludo claimed, in a post, that he received confirmation that CBN had issued a directive to banks to accept old notes
- Checks show that banks are yet to get the directives and continue to reject the old naira despite instruction from various state governors
The Central Bank of Nigeria (CBN) has responded to a recent statement by Chukwuma Soludo, the Anambra state governor, regarding accepting old naira notes.
According to Soludo, the Governor of the CBN, Godwin Emefiele, personally confirmed that a directive was issued at a Bankers' Committee meeting held on Sunday, 12th March 2023, instructing banks to accept old notes from customers and dispense them as well.
Source: UGC
Soludo then ordered residents in the state to continue transacting their business with old naira notes and report any bank that refused to accept them to the authorities.
CBN gives a reply
However, when Legit.ng contacted Isa Abdulmumin, the Acting Director of Corporate Communication at the CBN, he clarified that the apex bank had not issued any statement directing commercial banks to dispense and accept the old N500 and N1000 notes from Nigerians.
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When Legit.ng asked for further clarification on Soludo's statement and also the validity of old naira notes, Abdulmumin said:
"Governor Charles Soludo’s statement emanates from him, maybe his Chief Press officer(CPO) not the Central Bank of Nigeria will provide the answer you seek."
Banks reject old notes
Meanwhile, a visit to various bank branches in Lagos showed a lack of compliance, as claimed by Soludo.
Also, calls to various bank workers confirmed that there was no directive to accept old naira notes.
A manager of one of Ecobank's branches said:
"No information yet on old naira notes except with the earlier directives that customers must first register with the CBN and get a slip."
CBN silence costing the Nigerian economy
Today, March 13th, 2023, marks exactly 10 days since the Supreme Court extended the validity of old Naira notes.
As previously reported by Legit.ng, a seven-member panel of the court, led by John Okoro, unanimously directed that the N200, N500, and N1,000 Naira notes should remain in circulation until December 31st.
The Central Bank of Nigeria (CBN) introduced the controversial Naira design policy in October of 2022 and set January 31st as the deadline for submission of old notes.
The policy has faced heavy criticism from Nigerians and state governors, who have strongly urged businesses to accept the old notes in compliance with the Supreme Court ruling.
"Zenith *966*60#": Banks release codes for cardless cash withdrawal at ATMs
Meanwhile, in another report, Legit.ng revealed that commercial banks in Nigeria had introduced cardless ATM cash withdrawals.
To collect cash from an ATM without using a card, customers must generate a code on their mobile phones or through their mobile banking app.
The latest innovation in banking technology preaches convenience and comes at a time Nigerians are battling with cash scarcity.
Source: Legit.ng
