President Muhammadu Buhari has approved a 10-day extension for Nigerians to swap their old N1,000, N500 and N200 notes for the new ones.
Central Bank of Nigeria (CBN) governor Godwin Emefiele spoke with reporters after a meeting with President Muhammadu Buhari in his Daura country home.
He said banks will continue to give out the new notes in exchange for the old ones till February 10, 2023
The CBN Governor, who visited the President on Sunday morning also said from February 10, Nigerians will have the grace of visiting the CBN to deposit their old notes for new ones for another seven days, which ends on February 17, 2023.
“We have today sought and obtained Mr. President’s approval for the following: one, 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 rural areas in our villages and communities, after which all old notes outside the CBN lose their legal tender status.
Nigerians in rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise.
“Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange,” he said.
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