Must Read
CBN AND OLD NAIRA NOTES
The Central Bank of Nigeria (CBN) has extended the deadline for the exchange of old naira notes by 10 days.
This was disclosed in a press statement issued today, January 29. CBN Governor Godwin Emefiele said the new date is February 10, 2023.
Nigerians complained of not being able to exchange their old notes for new designs as the January 31 deadline loomed.
Emefiele said that following the hardships experienced by Nigerians in trying to access the newly redesigned notes, President Buhari gave approval to extend the deadline.
“Based on the above, we have requested and obtained Mr. President's approval for the following: a 10-day extension of the deadline from January 31, 2023 to February 10, 2023; to enable the collection of more old notes legitimately held by Nigerians and achieve greater success in cash exchange in our rural communities after which all non-CBN old notes will lose their legal tender status. Our CBN operatives who are currently on mass mobilization and monitoring, together with EFCC and ICPC officials will work together to achieve these objectives.
A seven-day grace period, starting from February 10 to February 17, 2023, in accordance with Sections 20(3) and 22 of the CBN Act to allow Nigerians to deposit their old notes with the CBN after the February deadline when the old currency would have lost its legal tender status.”