Again, CBN Insists on Jan 31 Deadline To End Circulation Of Old Notes


The Central Bank of Nigeria (CBN) has insisted that there is no going back on the January 31 deadline for old naira notes.

The apex bank stated this Saturday evening as Nigerians continued to canvass for an extension of the deadline due to the non-availability of the new naira notes.

In a tweet on Saturday evening, CBN insisted that there was no going back on the deadline.

- Advertisement -

READ ALSO: Old notes deadline: We can’t guarantee your safety in Kano, Ganduje tells Buhari

“Deadline for the return of old series of 200, 500 and 1000 naira notes remains January 31, 2023,” it tweeted attaching a video of Godwin Emefiele, CBN governor, giving the stance of the bank on old notes at the last Monetary Policy Committee (MPC) meeting of the bank.

- Advertisement -

In the video, Emefiele said, “Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies.

- Advertisement -

“The reason is because, just like the president has said on more than two occasions and even to some people privately, 100 days is more than enough for anybody who has the old currency to deposit it in the banks. And we took every measure to ensure that all the banks were and are still open to accept deposits.

We asked the banks to extend their operating hours but found out that they didn’t need to because they did not witness the anticipated rush. Only normal Nigerians were coming to the bank to deposit their old Naira notes.


Meanwhile,  President Muhammadu Buhari had said that the CBN was coordinating the distribution of the new notes to avoid chaos.

See the video here:

We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this. Your kind donation will help our continuous research efforts.


-Want to get the news as it breaks?-

- Advertisement -