New naira: I have met with banks to make old N200 available, says Emefiele

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New naira: I have met with banks to make old N200 available, says Emefiele .

Emefiele and Buhari File: Central Bank Governor, Godwin Emefiele; the President, Major General Muhammadu Buhari (retd.)

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The governor of the Central Bank of Nigeria, Godwin Emefiele has said that he had met the commercial banks and given them directives on how to make the old N200 naira notes available to Nigerians. Emefiele said this in a video clip recently posted on the CBN official Twitter handle while addressing journalists after his meeting with the president, Major General Muhammadu Buhari (Retd.) at the villa on Thursday morning. When asked what Nigerians should expect from the CBN following the president’s directive, the governor of the apex bank noted that he had met with 15 banks after the broadcast and strategised on the implementation. The PUNCH reported that Buhari had earlier on Thursday said the old N500 and N1,000 banknotes were no longer legal tender in the country. The president, however, said the old N200 note would be legal tender for the next 60 days, till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the CBN. Responding to the issue, Emefiele said, “The President has given his directives; I have met with about 15 banks this morning and given them directives on how they should make the old N200 notes available.”

Taking a swipe at the Supreme Court over the judgement that upheld old N1,000, N500 and N200 naira notes as legal tender, he hinted that he was following the directive of the Attorney General of the Federation, Abubakar Malami and that of the president. Related News New Naira: Respect rule of law, CDD knocks Buhari New Naira policy good for security, anti-corruption — Buhari New naira: Old N200 notes not enough to go round – Falana Malami had asked the Supreme Court to dismiss a suit challenging the naira redesign policy of the Central Bank of Nigeria

Emefiele then told journalists, “The truth is this, we are all servants, we are serving the Nigerians, as far as I am concerned, the Attorney General of the Federation has spoken on this matter and the President has sealed up the whole of the issue in his broadcast this morning.”

The CBN governor further appealed to Nigerians to let the policy work as it would benefit them in the long run. He added, “I can only appeal to Nigerians to allow this policy to work. This policy is one that aims to solve the problem of corruption and illicit financial flows; resolve some of the problems in the economy; help reduce insecurity in the country. “These three issues which are the tripod of this administration’s policy are all embedded in this policy; we should allow it to work. “There are some temporary issues, but I can assure you Nigerians that the long-term benefits are huge for them. They should be left alone.”

The governor of the Central Bank of Nigeria, Godwin Emefiele has said that he had met the commercial banks and given them directives on how to make the old N200 naira notes available to Nigerians.
Emefiele said this in a video clip recently posted on the CBN official Twitter handle while addressing journalists after his meeting with the president, Major General Muhammadu Buhari (Retd.) at the villa on Thursday morning. When asked what Nigerians should expect from the CBN following the president’s directive, the governor of the apex bank noted that he had met with 15 banks after the broadcast and strategised on the implementation.
The PUNCH reported that Buhari had earlier on Thursday said the old N500 and N1,000 banknotes were no longer legal tender in the country.
The president, however, said the old N200 note would be legal tender for the next 60 days, till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the CBN. In response to this question, Emefiele said: “The president gave an order. This morning I met with about 15 banks and gave them instructions on how to get them to use old N200 notes.”

Opposing the Supreme Court over a ruling recognizing the old N1000, N500 and N200 notes as legal tender, he implied that he was following the direction of Federal Attorney General Abubakar Malami and the President.

Malami has petitioned the Supreme Court to dismiss a lawsuit challenging the Nigerian central bank’s Naira redesign policy.

Kindly share this story:

The governor of the Central Bank of Nigeria, Godwin Emefiele has said that he had met the commercial banks and given them directives on how to make the old N200 naira notes available to Nigerians.
Emefiele said this in a video clip recently posted on the CBN official Twitter handle while addressing journalists after his meeting with the president, Major General Muhammadu Buhari (Retd.) at the villa on Thursday morning. When asked what Nigerians should expect from the CBN following the president’s directive, the governor of the apex bank noted that he had met with 15 banks after the broadcast and strategised on the implementation.
The PUNCH reported that Buhari had earlier on Thursday said the old N500 and N1,000 banknotes were no longer legal tender in the country.
The president, however, said the old N200 note would be legal tender for the next 60 days, till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the CBN.
Responding to the issue, Emefiele said, “The President has given his directives; I have met with about 15 banks this morning and given them directives on how they should make the old N200 notes available.”

Taking a swipe at the Supreme Court over the judgement that upheld old N1,000, N500 and N200 naira notes as legal tender, he hinted that he was following the directive of the Attorney General of the Federation, Abubakar Malami and that of the president.
Related News
New Naira: Respect rule of law, CDD knocks Buhari
New Naira policy good for security, anti-corruption — Buhari
New naira: Old N200 notes not enough to go round – Falana
Malami had asked the Supreme Court to dismiss a suit challenging the naira redesign policy of the Central Bank of Nigeria

Emefiele then told journalists, “The truth is this, we are all servants, we are serving the Nigerians, as far as I am concerned, the Attorney General of the Federation has spoken on this matter and the President has sealed up the whole of the issue in his broadcast this morning.”

The CBN governor further appealed to Nigerians to let the policy work as it would benefit them in the long run.
He added, “I can only appeal to Nigerians to allow this policy to work. This policy is one that aims to solve the problem of corruption and illicit financial flows; resolve some of the problems in the economy; help reduce insecurity in the country.
“These three issues which are the tripod of this administration’s policy are all embedded in this policy; we should allow it to work. “There are some temporary issues, but I can assure you Nigerians that the long-term benefits are huge for them. They should be left alone.”