JUST IN: CBN bows to pressure,extends deadline for old Naira notes

The Central Bank of Nigeria (CBN) has finally bowed to pressure and extended the usage of old Naira notes to February 10, 2023.

The CBN governor, Godwin Emefiele who spoke to journalists Sunday morning, said he had the approval of President Muhammadu Buhari for the extension.

The new deadline is now 10 February instead of the former 31 January deadline, he said.Mr Emefiele spoke in Daura, Katsina State, after a meeting with the president who is in his home state for official duties.

Mr Emefiele stated that Nigerians, who are yet to change their naira notes from the old to new ones, now have an opportunity to do so he noted that people must utilize the opportunity because the deadline will not be extended again.

It has reported how the CBN last October introduced redesigned 200, 500 and 1000 naira notes and gave a deadline of 31st January for the use of the old note. The new notes have been scarce, thus leading to calls for an extension.

Mr Emefiele, however did not talk on what the central bank was doing to resolve the scarcity of the new notes.

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