The Central Bank of Nigeria (CBN) has stated that it is not considering extending the deadline for the phase-out of old Naira notes.
Nigerians, including governors elected on the All Progressives Congress (APC) platform, have asked the apex bank for an extension due to the scarcity of the redesigned Naira notes.
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However, CBN Governor Godwin Emefiele stated that the bank is not considering extending the deadline beyond the 10-day grace period recently approved by President Muhammadu Buhari.
Emefiele, who revealed this at a briefing in Lagos, urged Nigerians to be patient, noting that the policy’s benefits outweigh the initial challenges.
“I want to say unfortunately again, this time, we will not be looking at extension of deadline because we are the central bank and the deposit money banks are doing everything to address the challenges,” he said.
He also stated that the redesigned naira policy is not aimed at anyone in particular, emphasizing that the policy is aimed at economic benefits.
He also urged Nigerians not to let themselves be used to undermine the policy.
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“We are doing our work. We are bankers. Those holding protest should not allow themselves to be used,” he said
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