March 24, 2023

The Central Bank of Nigeria has announced the extension of the deadline for swapping old naira notes till February 10, 2023.

This new development was announced by Governor of the CBN, Godwin Emefiele, in a statement signed on Sunday.

February 10 to February 17, 2023, has also been approved to enable Nigerians to deposit their old notes at the CBN after the February 10 deadline when the old currency would have lost its Legal Tender status, this gives an additional 7days grace period.

President Muhammadu gave the approval in a meeting with the apex bank’s governor, Godwin Emefiele, in his country home in Daura, Katsina State today.

The CBN said it added a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection of more old notes…”

Briefing correspondents after the meeting, Mr Emefiele affirmed that 75 percent of the 2.7 trillion naira held outside the banking system has been recovered.

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