Godwin Emefiele, Governor of the Central Bank, declares that the deadline for depositing old naira notes would not be extended further.
In order to avoid the February 10th deadline, Emefiele revealed this at a meeting with newsmen in Lagos State urging Nigerians to deposit their old series of N200, N500, and N1,000 notes.
The Governor urged Nigerians to exercise patience and calm while the CBN and deposit money banks try to solve the problem of cash distribution.
“We call on all Nigerians to be calm, law-abiding, and considerate of their fellow citizens (particularly the vulnerable and weak) in the conduct of their affairs as we execute this policy of national significance,” he stated.
Emefiele issues a severe warning to individuals who misuse or sell the naira in violation of the CBN Act and vows to bring charges against those responsible.
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He explained that the new naira is just for the benefit of Nigerians and the country’s economy and is not intended to be aimed at anybody in particular, as he assured adequacy of currency.
“CBN is committed to ensuring a seamless, inclusive, and equitable implementation of the redesign exercise for the overall benefit of the people, financial system, and Nigerian economy as a whole.
“The advantages of the currency redesign are overwhelmingly enormous and will benefit the economy in the long run,” Emefiele added.
The CBN governor affirms that the apex bank would take all necessary measures to guarantee a seamless flow of cash swaps and reduce inconvenience in the near future.
Recall that as of late last month, the Central Bank of Nigeria (CBN) had extended the deadline for exchanging old naira notes by 10 days. The new date is now Friday, February 10, 2023.
