Emefiele Meets Bank Chiefs, Directs Them to Make Old N200 Note Available

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has appealed to Nigerians to allow the Naira redesign policy of government to work.

Speaking with newsmen on Thursday after meeting with President Muhammadu Buhari and House Ad-hoc committee on naira re-design and swap policy at the State House, Abuja, the CBN Governor said allowing the currency swap to work will go a long way to help the nation’s economy.

Emefiele also stated that he has met with 15 bank executives and directed them to make the N200 notes available immediately.

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.

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.

He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.