Don’t issue old notes if you won’t accept deposit, Adeleke tells banks

Alade Abayomi ADeleke
Alade Abayomi ADeleke
Old Naira Notes

Wilson Adekumola


The Governor of Osun State, Ademola Adeleke, has told the commercial banks in the state to halt issuing old naira notes to customers if they will not accept it back as deposits.


The News Agency of Nigeria reported that the governor expresssed worries over the rejection of the old naira notes by commercial banks even after paying customers with such notes.


He made this call in a statement signed by his spokesperson, Malam Olawale Rasheed, on Monday in Osogbo.


The Governor disclosed that complaints received from banks customers claiming banks refused to receive the old notes are worrisome, adding that banks cannot issue old note still refused to accept it as deposit.


“I have received several calls from Bank customers across the state. The deliberate refusal of banks to collect old notes is creating serious economic complications for residents of the state.


“For the banks to issue old notes and refuse to accept old notes as a deposit is highly unacceptable,” he said.


Adeleke then urged the Central Bank of Nigeria give directives to its operating branch in the state to address the issue


“The state director of the CBN is specifically requested to direct the banks to halt this unhealthy practice.


“If banks will not accept old notes as deposits, they must stop issuing old notes for withdrawal. The current pain being inflicted on our people must stop,” he said.

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