CBN extends old/new Naira swap till Feb. 10
Economy National

CBN extends old/new Naira swap till Feb. 10

The Central Bank of Nigeria (CBN) has extended the deadline for the use of the old notes till Feb. 10.

Bashir Ahmad, Special Assistant to President Muhammadu Buhari’s special assistant, Bashir Ahmad, announced this on his Twitter handle @BashirAhmaad on Sunday.

According to the tweet, the apex bank governor, Godwin Emefiele, announced the extension in a statement signed on Sunday.

“The Governor of the Central Bank of Nigeria says so far the CBN has collected N1.9 trillion old Naira notes.

”We have N900 billion left to achieve effective implementation of the policy,” he tweeted.

Meanwhile, another report says President Muhammadu Buhari has approved the CBN’s request for the extension.

”A seven-day grace period, beginning on February 10 to February 17, 2023, has also been approved to enable Nigerians to deposit their old notes at the CBN.

After the February deadline, the old currency would have lost its legal tender status.

This followed the President’s meeting with the apex bank’s governor, Godwin Emefiele, in Daura, Katsina State on Sunday.

Briefing newsmen after the meeting, Rmefiele revealing that 75 per cent of the N2.7 trillion held outside the banking system has been recovered.

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