There won’t be any extension of the deadline for the use of old Naira notes, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has insisted, despite pleasure from people who want the deadline extended.
The CBN Governor reiterate the bank’s position on the matter on Tuesday, in Abuja, during the monthly Monetary Policy Committee (MPC) meeting.
“I don’t have good news for those who feel we should shift the deadline; my apologies,” Emefiele said.
The CBN Chief said the bank gave enough time for people to go to their banks to exchange their old notes for the new ones and that the 90 days given was enough for them to have done that.
He said extending the date was not necessary as the bank wont change its position on the matter given the fact that whatever time that was needed for people to exchange their cash for the new currency was already given.
He noted that CBN met commercial banks to extend their banking hours and work days to Saturdays for Nigerians to meet the set deadline.
CBN in October 2022 announced that will redesign the N200, N500, N1,000 notes, and fixed Tuesday, January 31 as the deadline for the circulation of the old notes.
CBN has since directed all commercial banks to halt over-the-counter payment of the new notes and load their Automated Teller Machines (ATMs) with the redesigned naira notes to boost circulation.
The Nigeria Senate while sitting today and sometime early January, overwhelmingly voted and adopted a motion, calling for the extension of the deadline, which according to them, was necessary because the new Naira notes was not in circulation.
, Godwin Emefiele has insisted, despite pleasure from people who want it extended after the election.){kind=link}