The deadline for the old Naira notes remains on 31 January 2023.
This information was made known by the CBN governor in the 289th press briefing of the monetary policy committee.
The CBN Governor said there has not been any crucial reason that will cause an extension of the deadline for the old Naira note. He also stated that the duration of time to change the old notes is more than enough for the public to go and deposit in their respective banks. In his statement, “I see no reasons for the extension of the old Naira note because the time duration is more than enough and the bank has been working overtime in other to ensure the accessibility of the new Naira notes to their customers“
The CBN Governor also admitted the fact that some of the commercial banks were hoarding the new Naira notes and giving them only to their special customers, but the CBN tackled the issue by stopping the collection of the new Naira note over the counter. He stated that all banks were to only dispense the new Naira note in their Automated Teller Machine (ATM) so that there would be no discrimination.
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