Central bank of nigeria extends deadline for use of old naira notes

The Nigeria’s President Muhammadu Buhari has approved a 10-day extension of the deadline for the use of old naira notes across Nigeria, which is now 10 February instead of the former 31 January deadline

Penpushing reports that Governor of Central Bank (CBN) Godwin Emefiele made this known to journalists after his meeting with the President in Daura, his hometown of Katsina State, adding that Nigerians, who are yet to change their naira notes from the old to new ones, now have an opportunity to do so.

The Central Bank of Nigeria (CBN) Governor emphasized that people must utilise the opportunity because the deadline will not be extended again, but was silence on what the apex bank was doing to resolve the scarcity of the new notes.

Penpushing further reports that it is recalled that in October last year, the Central Bank of Nigeria(CBN introduced redesigned N200, N500 and N1000  notes and gave a deadline of 31st January for the use of the old notes, but the new notes have been scarce, thus leading to calls for an extension.

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