BREAKING: CBN bows to pressure, extends old Naira use deadline till February 10

The Central Bank of Nigeria (CBN) has extended the deadline for the use of the old notes till February 10, 2023.

The CBN Governor, Godwin Emefiele, announced the extension in a statement signed on Sunday, January 29, 2023.

This comes after Nigerians have called for an extension of the deadline, sighting scarcity of the new notes in circulation.

The CBN governor had earlier insisted that there won’t be any extension to the policy, saying kidnapping and ransom-taking have reduced since the three banknotes were redesigned.

He also said the time given for the swap of the old naira notes with new ones were enough for Nigerians to go to commercial banks and get new notes.