The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that the declared deadline for the validity of old 200, 500 and 1,000 naira notes still stands until the expected date.
Mr. Emefiele made this announcement after the C.B.N.’s Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday, January 24.
Nigerians has ample time to return the old Naira notes they ha e to commercial banks.
”I must say that unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies.
“The reason is because 90 days (we feel it’s 100 days) should be enough for those who have the old currency to deposit it to the banks” he said.
Recall that on October 26, 2022, the apex bank announced its plan to redesign the three banknotes. President Muhammadu Buhari then shared the redesigned N200, N500 and N1,000 notes on November 23, 2022, while the apex bank fixed January 31 deadline for the validity of the old notes.
There have been concerns from many Nigerians over the slow spread of the three new naira notes as the January 31 2023 deadline approaches but the apex bank has insisted that the date stands.
Watch video of Emiefule’s press conference below.