Old Notes: CBN has no plans to extend deadline -Emefiele

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Abuja, Jan, 24, 2023 – The Central Bank of Nigeria (CBN) says it has no plans to extend the January 31st deadline for replacing old naira notes.

Godwin Emefiele, the Governor of the CBN, announced this at a press briefing after the meeting of the Monetary Policy Committee (MPC) in Abuja on Tuesday.

He said there was no need for a change of the deadline date since there were no indications that customers had issues depositing the old notes.

Emefiele said he had not seen any rush by customer to deposit money at the bank and as such there was no need to extend the deadline.

He said that about N1.5 trillion in currency outside circulation had paid back into the banking system and that he expected more deposits the deadline approached. (GBN)

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