Emefiele Directs 15 Bank Executives To Make N200 Notes Available

Emefiele has directed 15 bank executives to make N200 notes available.

Glamtush reports that the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, says he has met with 15 bank executives and directed them to make the old 200 naira notes available from today, Thursday, February 16.

This online platform understands that 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.

He said, “President has given his directive, I have met with about 15 banks this morning and we have given them directives about how they can make all the N200 note available effective today.

“I assure Nigerians that this will help to reduce the pain. We meet with the bankers at least once daily to get feedback and I think we should let this policy work. The temporary pains are regrettable but I can assure Nigerians that it will be well.”

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 – till April 10.

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.