Emefiele orders banks to comply with President’s directive on N200

0
384

* Appeals to Nigerians to allow the policy to work

* Says it’s the tripod of Buhari’s admin’s promises

By Mathew Dadiya

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele met with President Muhammadu Buhari after the national broadcast and directed the leadership of commercial banks to adhere to the President’s directive to make available N200 notes for circulation.

Speaking with State House correspondents in a brief interview after the meeting, said he has met with about fifteen commercial banks and directed them to ensure that the old N200 note remains a legal tender from now till April 10, 2023.

The CBN Governor was at the State House, Abuja, for another meeting with the House Adhoc Committee on Redesign Naira currency.

He said the meeting with the bank executives earlier on Thursday was to ensure a sufficient supply of the old N200 notes to alleviate the sufferings of Nigerians.

The central bank governor said, “The truth is that we are all servants. We are serving Nigerians. As far as we are concerned the Attorney General has spoken on this matter and the President has sealed the whole issue this morning in his broadcast. I think I can only just appeal to Nigerians, let’s allow this policy to work.

“This policy is one policy that goes to reduce the problem of corruption and illicit financial flaws; this policy goes to resolve some of the problems in the economy; this policy also goes to reducing the level of insecurity in the country.

“So these three issues which are the tripod of this administration’s policy are all embedded in this policy. We should just allow it to work. We keep saying this, there are some temporary pains, but I can assure Nigerians that the long-run benefit to Nigeria is overwhelming and we should just give it a chance to work.”

On what Nigerians should expect from the CBN following the directive of Mr. President, Emefiele said, “President has given his directives, I have met with about fifteen banks this morning and we have given them directive on go to get all the old N200 available effective today.

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