“It remains a crime to reject old Naira Notes until 10th of February, which is about 15 days to the presidential elections”
President Muhammadu Buhari has finally extended the deadline for the exchange of old naira notes by 10 days.
Platforms Africa reports that this information was conveyed through the the Central Bank of Nigeria (CBN).
This means it remains a crime to reject old Naira Notes until 10th of February, which is about 15 days to the presidential elections.
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In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.
According to Emefiele, the apex bank has retrieved old notes worth N1.9trn old so far, adding that N900bn worth of old notes is still in circulation
Giving a breaksown, the CBN Governor said; “October 2022, Circulation: N3.23trn
Banking Industry: N500bn
People’s Homes: N2.7trn
“January 2023, Circulation: N3.23trn
Banking Industry: N2.4trn
People’s Homes: N900bn”
Story updated at 16:57 GMT