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No Extension Of Naira Notes Deadline Says CBN Governor

The central bank of Nigeria’s Governor, Mr. Emefiele, has made it clear that he doesn’t have any good news to people who are wishing that the deadline of cash submission in bank be shifted. And so therefore he has expressed his apologies. But gave reasons why it ought not to be shifted.

 Governor Emefiele said the apex bank will not extend the deadline to halt the use of the old 200, 500 and 1000 Naira notes. Emefiele said this during the CBN/Monetary Policy Committee (MPC) briefing in Abuja, on Tuesday, January 24, 2023.

 Earlier today, the Nigerian Senate directed the CBN to extend the mop-up deadline to July 31, 2023.“I don’t have good news for those who feel we should shift the deadline; my apologies,” Emefiele said.“The reason is because 90 days should be enough for those who have the old currency to deposit it in the banks.” CBN had set the deadline for the termination of the old Naira notes as legal tender is January 31st, 2023; a week from today.

More details shortly….

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