Following President Muhammad Buhari National broadcast earlier this morning revalidating the legal tender status of the old 200 hundred Naira note, the Central Bank Governor, Godwin Emefiele said he has directed 15 bank Directors to make the old note available for withdrawal forthwith.
The Apex Bank Governor, Godwin Emefiele, make this know to the news men after emergency meeting with President Muhammadu Buhari and the House of Representatives Special Ad Hoc Committee on Naira Redesign Policy, Cashless Policy, and Currency Swap on Thursday.
He said he has directed them to make the old 200 naira notes available for withdrawal from Thursday (today).
In his interaction with State House Correspondents shortly after the meeting, Emefiele urge Nigerians to excecise pentience and allow the policy to work for he believes it will bring advancement to the nation’s economy and curb the challenges of illicit financial flows and wide spread insecurity that has bedeviled the country.
Emefiele lamented that the hardship and temporary pains due to the policy are regrettable, but assured that the CBN will continue to do everything possible to ease the sufferings of Nigerians resulting from the cash crunch.
By this directive of the CBN governor, it is expected that bank will forth with commence payment in the old 200 Naira note. This is as a follow-up to President Buhari morning National broadcast where he resolved to recirculate the old so as to reduce the tensions brought about by the cash crunch.
In the broadcast, President Buhari promised that the CBN will release the old N200 notes into circulation to co-exist with new N200, N500, and N1,000 banknotes for 60 days while he category stated that the old N500 and N1,000 banknotes are no longer legal tender in Nigeria.
The President has also in the broadcast apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.
