Wednesday, April 24Inside Business Africa

Naira redesign: Emefiele says banks will accept old Naira notes after deadline

The Central Bank of Nigeria (CBN) on Tuesday assured the Nigerians that banks will continue to accept old Naira notes after the deadline.

Godwin Emefiele

Governor CBN, Godwin Emefiele said this in Abuja during an interactive session with the House of Representatives ad hoc committee on the currency redesign and naira swap policy.

CBN on Sunday extended the deadline for the phase out of old naira notes by 10 days from January 31, 2023 to February 10, 2023, to allow collection of the old notes.

Emefiele who mentioned the CBN act, while speaking with the lawmakers said that even after the old currency has lost its legal tender status, the CBN is mandated to collect these money (old notes) and “I stand with the house of representatives on this.”

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