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Gov. Soludo confirms banks can issue N500, N1000 notes

Anambra State Governor, Prof. Charles Soludo, on Monday morning, confirmed that Nigerian banks can now issue and accept old Naira notes of N500, and N1000.

Governor Soludo, a former CBN governor said the incumbent apex bank boss, Godwin Emefiele gave the directive at a Bankers’ Committee meeting held on Sunday, March 12, 2023.

It was not clear if Governor Soludo attended the Bankers Committee meeting.

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However, at the time of filling this report, CBN Spokesman, Dr Isa Abdulmumin was yet to issue any official statement regarding the said directive.

Soludo in an interview with a national newspaper said, Dr Godwin Emefiele, personally confirmed the above I formation to him during a phone conversation on Sunday night.

He called on residents of Anambra to, therefore, freely accept and transact their businesses with the old currency notes (N200; N500; and N1,000) as well as the new notes.”

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He told residents to report any bank that refuses to accept deposits of the old notes.

He said, “Anambra State Government will not only report such a bank to the CBN, but will also immediately shut down the defaulting branch.”

The Anambra Governor said 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.