The Central Bank of Nigeria has finally extended the deadline for the exchange of old naira notes by 10 days.
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The Central Bank of Nigeria (CBN) has announced a 10-day extension of the deadline for the use of old naira notes across Nigeria.
The CBN governor, who spoke to journalists Sunday morning,
said he had the approval of President Muhammadu Buhari for the extension.
The new deadline is now 10 February instead of the former 31
January deadline, he said.
Mr Emefiele spoke in Daura, Katsina State, after a meeting
with the president who is in his home state for official duties.
Mr Emefiele said Nigerians, who are yet to change their
naira notes from the old to new ones, now have an opportunity to do so.
He said people must utilize the opportunity because the
deadline will not be extended again.
The CBN last October introduced redesigned 200, 500 and 1000
naira notes and gave a deadline of 31st January for the use of the old notes.
However, the new notes have been scarce, thus leading to
calls for an extension.
Mr Emefiele did not elaborate on what the central bank was
doing to resolve the scarcity of the new notes.
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