The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has announced a 10-day extension of deadline for the submission of old Naira Notes, from January 31, 2023, to February 10, 2023.
Emefiele who disclosed this in a statement on Sunday, January 29, 2023 said, the decision was reached after a meeting with President Muhammadu Buhari.
He said, “we have sought and obtained Mr President’s approval for the following:
“A 10-day extension of the deadline from January 31, 2023, to February 10, 2023; to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.
“Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.
“A 7-day grace period, beginning on February 10 to February 17,2023, in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.
“We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free process for the implementation of this very important program”, he said.