May 22, 2024

No Further Extension In Depositing Old Naira Notes – CBN

Central Bank Governor, Mr. Godwin Emefiele Briefs Media in Lagos says no further extension in the deadline for depositing old series of N200, N500, and N1,000 banknotes.

 

CBN Governor, Mr. Godwin Emefiele pleads with Nigerians to remain calm and patient as the CBN and deposit money banks are working to address the challenge of cash distribution.

 

“We call on all Nigerians to be calm, law-abiding, and considerate of their fellow citizens (particularly the vulnerable and weak) in the conduct of their affairs as we execute this policy of national significance,”

 

“The advantages of the currency redesign are overwhelmingly enormous and will benefit the economy in the long run”

 

“We will take all the necessary steps to ensure that there will be a smooth flow of cash swaps and minimize the inconvenience in the short term” Emefiele added.

 

Central Bank of Nigeria Governor, Emefiele, warns that those who abuse or sell the Naira, in contravention of the CBN Act, will be prosecuted henceforth.

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