New Naira Notes: CBN Gov Emefiele Speaks On Deadline Extension Amid Scarcity

The January 31 deadline for old Naira notes is set in stone, according to the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

Emefiele in a tweet on Saturday insisted that there was no going back on the deadline.

The shortage of new naira notes has put pressure on the apex bank to change the deadline.

“Deadline for the return of old series of 200, 500 and 1000 naira notes remains January 31 2023,” it tweeted with an accompanying video of Godwin Emefiele, CBN Governor, giving the position of the bank on old notes at the last Monetary Policy Committee (MPC) meeting of the bank.” He said.

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What CBN Governor Said About Naira Notes Extension

In the video, Emefiele said: “Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies.

“The reason is because, just like the president has said more than two occasions and even to some people privately, 100 days is more than enough for anybody who has the old currency to deposit it in the banks. And we took every measure to ensure that all the banks were and are still open to accept deposits.”