Our Reporter, Abuja with Stephen Ukandu, Umuahia
The Central Bank of Nigeria, CBN, Sunday, announced the extension of deadline for the swapping of old naira notes till February 10, 2023.
CBN had initially fixed Tuesday, January 31 as deadline for the old naira notes to cease to be legal tender.
But in a release on Sunday, the CBN said it added “a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection of more old notes.”
The CBN Governor, Godwin Emefiele, further said that Nigerians would still be able to deposit their old notes directly with the CBN until February 17, 2023, which he described as “grace period.”
Ikengaonline had reported that there has been clamour across the country for extension of the deadline.
“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 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.
“A seven-day grace period, beginning from 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,” Emefiele said.