Central Bank of Nigeria (CBN) has noted that there is currently no plans to extend the deadline for the use of old naira notes.
Gatekeepers News reports that the CBN Governor, Godwin Emefiele stated this during a briefing on Friday at the apex bank’s office in Lagos, South West Nigeria.
According to Emefiele, the CBN, as well as Deposit Money Banks (DMBs) are working to address the current challenges with the circulation of the new currency notes.
The CBN had issued a deadline of January 31 for the use of the old naira notes, but it was recently extended to February 10.
Emefiele said after the 10-day grace period, the bank is not considering an extension of the deadline.
“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 urged Nigerians to be patient, noting that the policy’s benefits outweigh its initial downsides.
The CBN governor also said the naira redesign policy is not aimed at anyone in particular, emphasising that it is aimed at economic growth.
“We are doing our work. We are bankers. Those holding protest should not allow themselves to be used,” he added.
Meanwhile, President Muhammadu Buhari on Friday received the All Progressives Congress (APC) Governors over scarcity of naira in the country.
Buhari, after the meeting, asked Nigerians to give him seven days to resolve the crisis caused by the scarcity of the redesigned currency notes.
