The Central Bank of Nigeria has extended deadline for the swapping of old naira notes, Daily Report Nigeria reports.
This was contained in a statement on Sunday by the apex bank, extending the deadline for the swapping of old naira notes till February 10, 2023.
According to the CBN Governor, Godwin Emefiele, the move was informed by the outcry from Nigerians.
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“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.
“Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.
“A 7-day grace period, beginning on February 10 to February 17, 2023, 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.”
The extension of the validity of the old naira notes is coming less than 24 hour after Emefiele had vehemently rejected calls for the January 31 deadline.
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