Old Naira Notes: There is no need shifting February 10 Deadline, Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that there was no need to shift the February 10, 2023 deadline.

Emefiele during a visit on Tuesday to the Ministry of Foreign Affairs, to discuss the monetary and currency redesign policy of the bank, declared there was no need to shift deadline.

He said, “The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.

“There is, therefore, no need to consider any shift from the deadline of February 10.”

Recall that the Supreme Court issued an order of interim injunction restraining the Federal Government and the CBN from enforcing the February 10 deadline for the phasing out of the old naira notes.

The CBN Governor also said that Point of Sale agents who charge above N200 for the CBN cash swap programme will be arrested and jailed when caught.

Emefiele further said that the PoS operators can come to the CBN to be compensated for any extra cost incurred in getting the new notes rather than charging a higher fee on customers.