Demola Adeleke asks CBN to call banks in Osun to order over old naira bills

Ademola Adeleke is the governor of Nigeria's Osun State, a position he has held since 2022; he served as senator for the Osun-West district from 2017 until 2019. He is a member of the Adeleke family, who hails from Ede in Osun State.

Governor Ademola Adeleke of Osun State has said banks were unfairly treating people in the state because they wouldn’t take back old currency notes after paying customers with them.

In a statement released on Sunday by his spokesman, Malam Olawale Rasheed, the governor lamented the pain and suffering of the people. He told of the many complaints from bank customers who said the banks wouldn’t take old bills as deposits and the harmful effects this had on the people.

Adeleke said he had gotten calls from bank customers all over the state about how banks are refusing to take back old bills on purpose, making things very hard for the state’s economy.

Because of this, Governor Adeleke has asked the Central Bank of Nigeria to tell the banks in the state to remediate the issues.

The governor asked the state director of the Central Bank of Nigeria (CBN) to tell the banks to stop a harmful practice that has caused a lot of trouble for the people and killed many small businesses in the country.

“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”, the governor insisted.