Naira Redesign: No Going Back on January 31st Deadline – CBN

The Central Bank of Nigeria has again said that the January 31 deadline for the validity of the old 200, 500 and 1,000 naira notes remains unchanged.

This is as calls from various quarters have poured in pleading and demanding with the apex bank to shift grounds and extend the deadline in order to allow Nigerians more time to return their old notes to deposit money banks, better known as commercial banks.

However, the apex bank, via its verified Twitter page, insisted on Saturday evening that the January 31, 2023 deadline remains.

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The CBN Governor, Godwin Emefiele, who reposted a video from the just concluded Monetary Policy Committee meeting said,

“Deadline for the return of old series of 200, 500 and 1000 naira notes remains January 31 2023.”

“Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies. He added

“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.”