Emefiele Meets Banks Chiefs, To Circulate Old N200 Notes As Directed By Buhari
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said he had met with heads of Nigeria’s 15 banks to ease the current naira note squeeze and to circulate the old N200 notes as directed by President Muhammadu Buhari.
Emefiele said he met with the banks’ chief executive officers after president Muhammadu Buhari’s special nationwide broadcast on the naira note crisis on Thursday morning.
The CBN Governor made this known while addressing the state house correspondents after a meeting with Muhammadu Buhari at the Presidential Villa after his Thursday special broadcast.
President Muhammadu Buhari has ordered that the old N500 and N1,000 notes are no more legal tender. The president, however, said he had directed the Central Bank of Nigeria (CBN) to recirculate the old N200 notes into the economy as a legal tender.
Buhari stated this while addressing Nigerians for the first time on the naira notes swap crisis, in a nationwide broadcast on Thursday morning.
Read Also:
He said the extension of the deadline for the circulation of the old N200 note as a legal tender will end on April 10.
Buhari said that the old N500 and N1,000 notes could only be deposited at the Central Bank of Nigeria (CBN). He added that the old N200 note and newly designed N200, would be allowed to circulate until February 10.
The president was concerned over the plight of Nigerians, but said the matter had been taken to the Supreme Court and that the Federal Government must obey the rule of law.
He said that the old N200 notes which Buhari directed the CBN to recirculate back into the banking system would be made available immediately.
The CBN Governor urged members of the public to allow the naira notes swap policy to work.
