Old Notes’ Deadline: ‘I Don’t Have Good News’ — Emefiele Insists On Jan. 31

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has insisted that the federal government will not shift the deadline for the expiration of old notes.

Gatekeepers News reports that Emefiele said this while addressing journalists on Saturday.

The CBN Governor noted that reports had shown that the public wanted an extension of the January 31 deadline but the apex bank would not go back on its decision.

Emefiele said, “Reports suggest that many people want the deadline to be shifted for reasons ranging from their inability to gain access to the new notes or deposit their old currencies. I must say that unfortunately, I don’t have good news for those who feel we should shift the deadline.”

The CBN governor explained that President Muhammadu Buhari had said 100 days was adequate for the deposition of the old currencies and the bank had taken every step necessary to ensure the deadline was met.

He said, “Just as the president had said on more than two occasions and even to people privately, 90 days, in fact, 100 days, is enough for anybody who has money or the old currencies to deposit in banks.

“And we took every measure to ensure that all the banks were open or remain still open to receive all old currencies. 100 days is more than adequate.

“We called on the banks; we said ‘not only are we requesting you to extend your banking hours so you can receive old currencies, but we are also asking you to keep your doors open on Saturdays’.

“We do not see any reason to begin to talk about a shift because people could not deposit their old monies into their banks.”