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HomeBanking and FinanceCBN governor Emefiele directs 15 bank executives to make N200 notes available

CBN governor Emefiele directs 15 bank executives to make N200 notes available

…Says hardship, temporary pains as a result of the policy are regrettable.

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele said that  he has met with 15 bank executives and had subsequently directed them to make the old 200 naira notes available effective today, Thursday April 16, 2023.

He made this 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.

In a chat with State House Correspondents, Emefiele who described himself as a servant 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.

The CBN Governor stated that the hardship and temporary pains due to the policy are regrettable, but assured that the apex bank will continue to work to ease the sufferings of Nigerians owing to the cash crunch.

Buhari had earlier in a nationwide broadcast, directed the CBN to release old N200 notes into circulation to co-exist with new N200, N500, and N1,000 banknotes for 60 days.

He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.

The President also apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.

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