The Central Bank of Nigeria, CBN, has extended deadline for the swapping of old naira notes to February 10, 2023.
The CBN stated this on Sunday in a release after a crucial meeting with President Muhammadu Buhari.
CBN governor, Godwin Emefiele disclosed this after the meeting at the Presidential Villa in Abuja
According to him, “We have sought and obtained Mr. President’s approval for the following:
- A 10-day extension of the deadline from January 31, to February 10, 2023; to allow for collection of more old notes legitimately held by Nigerians.
- A 7-day grace period, beginning on February 10 to February 17, 2023, in compliance with Section 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.
“We therefore, appeal to Nigerians to work with the Central Bank of Nigeria to ensure a hitch free process for the implementation of this very important programme.”
Read the statement by Emefiele produced hereunder in extenso: