Emefiele orders banks to make N200 notes available to customers

Central Bank of Nigeria CBN Governor Godwin Emefiele

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed commercial banks to adhere to President Muhammadu Buhari’s directive to make available N200 notes for circulation.

Mr Emefiele stated this when he fielded questions from State House correspondents after a closed-door meeting with President Muhammadu Buhari on Thursday in Abuja.

The CBN governor said he met with about 15 commercial banks and directed them to ensure that the old N200 note remained a legal tender from now till April 10.

He explained that the meeting with the bank executives was to ensure sufficient supply of the old N200 notes to alleviate the sufferings of Nigerians.

“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 flows; 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-term benefit to Nigeria is overwhelming and we should just give it a chance to work,” he said.