The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has directed the executives of 15 banks to make the old N200 notes available from Thursday, in line with President Buhari’s directive.
The Governor of the Apex bank met with the executives of the 15 banks after the President’s broadcast on Thursday morning.
Also read; How to deposit old naira notes, CBN opens portal
In the broadcast monitored by Investogist, the President approved that the CBN release the old N200 note back into circulation and to allow it circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days.
To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.
Emefiele made his directive to the banks known after attending a meeting between President Muhammadu Buhari and the House of Representatives Special Ad Hoc Committee on Naira Redesign Policy, Cashless Policy, and Currency Swap on Thursday.
While describing himself as a servant n a chat with State House Correspondents, Emefiele appealed to Nigerians to allow the policy to work because he believes it will bring advancement to the nation’s economy when the challenge of illicit financial flows and insecurity is resolved.
He went further to regret the hardship and temporary pains Nigerians have to endure becaue of the policy, and assured that the CBN will continue to work to ease the sufferings of Nigerians owing to the cash crunch.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
