CBN disowns Soludo’s old naira statement

Alade Abayomi ADeleke
Alade Abayomi ADeleke
Central Bank of Nigeria

The Central Bank of Nigeria has debunked claims of ordering banks nationwide to begin dispensing and accepting old naira notes.


This development on Monday is coming after a former CBN governor, Chukwuma Soludo, had written through his social media handle that the CBN governor, Godwin Emefiele, in a Bankers’ Committee meeting on Sunday had given the directive.


Soludo wrote, “Commercial banks have been directed by the Central Bank to dispense old currency notes and to also receive the 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.


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


However, in an exclusive chat with the Acting Director of Corporate Communication CBN, Isa Abdulmumin, Daily Post reported that he debunked the claim of Governor Soludo.


He said there is no such statement from the CBN directing commercial banks to dispense and accept the old naira notes, rather, Soludo’s statement on the policy emanated from himself and not the CBN.


He said, “Governor Charles Soludo’s statement emanates from him, not the Central Bank of Nigeria. The Central Bank has not issued any statement directing banks on a collection of old naira notes. I am sure sometime in the future; the bank will issue a statement”.

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