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Naira Scarcity: Soludo orders use of old naira notes in Anambra, warns banks

Governor Charles Soludo of Anambra, has ordered the use of old naira notes across the State.

He warned that any bank in the state that would default would be shut down.

The governor said his decision was informed following his telephone discussion with the Central Bank Governor, Dr Godwin Emefiele on Sunday who confirmed that old N500, N1000 notes remained legal tender.

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.

“Residents should report any bank that refuses to accept deposits of the old notes.

“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.

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

Prevail Inegbenose

Prevail Inegbenose is the Chief Executive Officer (CEO), Spark Media & Entertainment Ventures, the publisher of Spark News Daily - Nigeria's most sought-after online news platform - Politics, Sport & Entertainment. Prevail Inegbenose hails from Irrua, Esan Central LGA of Edo State. He studied Mass Communication from the prestigious Auchi Polytechnic Auchi and graduated in 2007. Prevail Inegbenose is a veteran journalist with 15 years of active and practical journalism. He has authored so many write-ups, a lot of which had been published in the newspapers, magazines and social media. Hence Prevail Inegbenose is a Journalist, Writer, Researcher, Author, Communication Expert and Consultant, Social Media Influencer, Project Management Expert, Peace Ambassador and Advocate of Good Governance and Better Society. He's a Pastor, in fact the Lead Pastor, House of God Int'l - Rest Tabernacle, Abuja Nigeria.

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