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No Going Back On Deadline For Old Naira Notes, Says CBN

The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele on Saturday while addressing journalists insisted that there’s no going back on the deadline for the return of old naira notes earlier scheduled for January 31, 2023.

This position was contained in a video shared on the Twitter verified handle of the apex bank on Saturday.

Emefiele said 100 days is more than enough for anybody who wants to deposit their old naira notes to their banks to do so. 

The Governor insisted that the deadline cannot be shifted.

Read excerpts from the video shared on Twitter. 

“Reports suggest that many people want the deadline to be shifted for reasons, ranging from the inability to gain access to the new notes or deposits or old currencies”.

“I must say that unfortunately, I don’t have good news for those who feel that we should shift the deadline”.

“My apologies”.

“The reason is because the President has said on more than two occasions, and even to people privately, that for us 90 days, in fact, 100 days is enough for anybody who has money or the old currency to deposit the money in the banks”.

“And we took every measure to ensure that all the banks were open or remains open to receive all old currencies”.

“100 days, we believe, is more than adequate”.

“We called on the banks and said, not only are we requesting you to extend your banking hours so that you can receive currencies, but we’re also asking you to keep your doors open on Saturdays”.

“Ladies and gentlemen, the banks did not have any reason to even keep their banking halls open on Saturdays”.

“Neither way did they see the kind of rush that they anticipated. People will give in to deposit money into the bank and also give you details about how much has been coming”.

“So there was no we do not see any reason to begin talking about his shift. Because people could not deposit their own money into their banks”.


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