In what looks like bowing to pressure from the political class, the Central Bank of Nigeria (CBN) on Sunday announced a 10-day extension of of the deadline for the use of old naira notes across Nigeria.
The CBN governor, Godwin Emefiele, in a statement he personally signed which was sent to the media said he had the approval of President Muhammadu Buhari for the extension.
The new deadline is now February 10 instead of the former January 31, deadline, he said.
Collection of old notes: Banks to work on Saturdays – CBN,
Emefiele earlier spoke in Daura, Katsina State, after a meeting with the president who is in his home state for official duties.
Emefiele said Nigerians, who are yet to change their naira notes from the old to new ones, now have an opportunity to do so.
He said people must utilize the opportunity because the deadline will not be extended again.
TheNiche 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 notes.
However, the new notes have been scarce, thus leading to calls particularly from for an extension.
Emefiele did not elaborate on what the Central Bank was doing to resolve the scarcity of the new notes.
Details later…
