Adeleke to banks: Stop issuing old naira if you won’t accept same as deposit

Ademola Adeleke, governor of Osun, has warned commercial banks in the state to stop issuing old naira notes to customers if they will not accept them back as deposits.

In a statement on Monday, Olawale Rasheed, his spokesperson, said Adeleke noted that the “maltreatment” of residents by commercial banks is worrisome.

Adeleke said he has received many complaints from residents who accused banks of refusing deposits of old notes as well as the attendant negative consequences on the populace.

“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,” he said.

“For the banks to issue old notes and refuse to accept old notes as deposit is highly unacceptable.”

The governor called on the Central Bank of Nigeria (CBN) 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,” he said.

“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.”

TheCable had earlier reported that Charles Soludo, governor of Anambra state, said Godwin Emefiele, CBN governor, informed him that banks had been instructed to dispense and collect old naira notes.