VIDEO: CBN Bows To Pressure, Extends Use Of Old Naira Notes

In Breaking News, Business & Economy, CrossRiverWatch TV, National News

By CrossRiverWatch Admin

The Central Bank of Nigeria (CBN) has bowed to public pressure and extended the deadline for the use of the old notes till February 10, 2023.

CBN Governor, Godwin Emefiele, made this known while granting Journalists an audience on Sunday 29th January 2023.

Godwin said the apex bank had the approval of President Muhammadu Buhari to extend the deadline after public outcry for the difficulty to deposit and get the new notes.

“Based on the foregoing, we have sought and obtained Mr. President’s approval for the following:  A 10-day extension of the deadline from January 31 to February 10 to allow for the collection of more old notes legitimately held by Nigerians.

“A 7-day grace period, beginning from February 10 to February 17, in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender Status.”

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