Journalism of Courage

Old Naira notes: Buhari, CBN back down on Jan. 31 deadline, extend it till Feb.10

"The CBN Governor said the latest development was due to the permission granted by President Muhammadu Buhari"

The nation’s Apex Bank, the Central Bank, has extended the deadline for the mopping up of old Naira notes from circulation earlier scheduled for January 31 to February 10.

This followed the approval of President Muhammadu Buhari.

A statement on Sunday a copy of which was obtained by Persecondnews quoted the CBN Governor, Mr Godwin Emefiele, as saying that they have successfully collected N1.9 trillion.

He said the extension was necessary to retrieve the N900 billion still in the hands of the banked and unbanked populace.

According to him, the latest development is due to the permission granted by President Muhammadu Buhari.

The extension is coming just a few hours after the Presidency disclosed that the policy is targeted at those hoarding the old note and not businesses and that there was no going back on the January 31 deadline.

Persecondnews earlier reported, in a statement by the President conveyed by Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, said it had become imperative to prevent counterfeits, corruption, and terrorist funding, assuring that the change will help stabilize and strengthen the economy.


Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More