The Governor of Osun state of Ademola Adeleke has warned that if banks will not accept old notes as deposits, they must stop issuing old notes for withdrawal. 

Adeleke disclosed this in a statement on Monday, joining the Anambra and Lagos state governments who have called on bank’s to respect the supreme courts judgment. 

Adeleke said he has received complaints from residents in the staate, who accused the banks of refusing deposits of old notes 

Accept old notes: Adeleke said the deliberate refusal of old naira notes is causing economic complications. He, therefore, stressed the need to accept the old notes, saying: 

  • “I have received several calls from Bank customers across the state. The deliberate refusal of banks to collect old notes is creating serious economic complications for residents of the state. 
  • “For the banks to issue old notes and refuse to accept old notes as deposit is highly unacceptable. 
  • “The governor, however, called on the Central Bank of Nigeria to direct the banks operating in the state to correct the anomalies. 
  • “The state director of the CBN is specifically requested to direct the banks to halt this unhealthy practice. If banks will not accept old notes as deposits, they must stop issuing old notes for withdrawal. The current pain being inflicted on our people must stop,” he said. 

In case you missed it: Nairametrics reported earlier that Some State Governors in Nigeria have threatened to file a contempt suit against Abubakar Malami and Godwin Emefiele for their failure to obey the Supreme Court order on the naira redesign policy. 

They have given the duo till Tuesday to comply with the apex court order on the currency after the apex court had ordered that the old N1,000, N500 and N200 remain legal tender alongside the new notes till December 31, 2023. 

According to reports, Both Malami and Emefiele have been served with the enrolled order and the Certified True Copy of the judgement last week Friday. 

Nigerians suffer: Nairametrics had also  reported how lengthy queues continued at Automated Teller machines across the nation even after the order. 

Most Nigerians are awaiting the CBN to give directives in line with the court’s order before they will start accepting the old notes as legal tender. 

However, CBN is yet to make any official statement since the court order. But some banks have started paying the old naira note behind the counter and at ATMs.