The Central Bank of Nigeria has finally concluded plans to release all N1,000, N500 and N200 notes in its custody to Deposit Money Banks, The PUNCH can report authoritatively.

This decision is expected to end months of hardships and pains Nigerians have been going through following a controversial CBN naira redesign policy that has caused a severe shortage of old and new naira notes across the country.

The CBN’s latest decision came several weeks after the Supreme Court ordered that old N1,000, N500 and N200 notes should remain legal tender until December 31, 2023.

On Wednesday night, top officials of the CBN and commercial banks confirmed to The PUNCH that the CBN Governor, Godwin Emefiele, had directed DMBs to begin the disbursement of old N1,000, N500 and N200 notes to members of the public effective Thursday (today).

According to him, the CBN will also start releasing old notes to commercial banks from Thursday.

The PUNCH learnt Emefiele met with the chief executive officers of DMBs on Wednesday evening where he told them that the central bank would start releasing all old notes in its custody to commercial banks effective Thursday (today).

Sources at the meeting said the CBN would also be cancelling all the controversial cash withdrawal limits it put in place in recent months.


Also, it was learnt the CBN would start by releasing crisp old notes to DMBS after which the ones deposited by commercial banks will also be released.

Furthermore, the CBN stated at the meeting that bank customers would no longer be required to generate any code before depositing their old notes.

One of the bank CEOs at the meeting, who spoke on condition of anonymity, said, “The CBN governor met with bank CEOs this evening virtually. It was a short meeting that lasted for just about 15 minutes. The governor said all old N1,000, N500 and N200 notes will be released to commercial banks beginning from Thursday. The CBN will start with crisp old notes after which the ones deposited by DMBs will be returned. The plan is to flood the economy with cash and ameliorate the challenges Nigerians have been passing through.“

https://punchng.com/nlc-protests-cbn-to-flood-banks-with-old-naira-notes/?amp

This man

Cornfuse corntree

What?

Let the suffering end please.


Lives have been lost

Cbn is a very stupid agency , why should they make people suffer cause of their stupid policy which at the end of the day is useless. Nawa for this govt

Buhari's policy of one step forward, two steps backwards. When we keep supporting leaders with questionable educational backgrounds, we are bound to suffer in their mediocre policies.

I prays make dis news b tru! O boy no be small tinz? I don slim!

Two categories of people you should fear in this life; guys with bald head and extremely flat ass and secondly those one with yeye moustache. They can be so wicked

Tooh, we Dey waiting…

Emefiele will not die well

Fear of NLC strike
Emefiele supposed go jail.
He and Buhari have really suffered Nigerians

When some of us along with other voice of reasons were saying the implementation of Emefiele cashless policy and timing was anti masses and counter productive, we were so surprised seeing some other people supporting him vehemently, eventually the adverse effects are obvious to all and sundry.

Because of political undertones, Buhari and Emefiele wanted to throw the whole Nation into unimaginable crisis.

Meanwhile their main target escaped their arrows and common man on the street suffered for nothing.

Pure act of inhumane to humanity.