The Central Bank of Nigeria (CBN) on Sunday extended the deadline for the submission of the old notes to February 10.
In a press statement issued on Sunday, the CBN Governor, Godwin Emefiele said the new deadline is now till February 10, 2023.
Extending the deadline, Emefiele said, “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, 2023, to February 10, 2023; to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN loses their Legal Tender Status.
He said “10-day extension of the deadline from
January 31, 2023, to February 10, 2023; to legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.”
” While a seven-day grace period, beginning on February 10 to February 17,2023, has also been approved to enable Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.
“Our CBN staff currently on mass mobilisation and monitoring together with officials of the Economic and Financial Crimes Commission and the Independent Corrupt Practices and other Related Offences Commission will work together to achieve these objectives.
“Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies.
“The reason is because, just like the president has said more than two occasions and even to some people privately, 100 days is more than enough for anybody who has the old currency to deposit it in the banks. And we took every measure to ensure that all the banks were and are still open to accept deposits.”
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