Amid the unrelenting suffering being experienced by Nigerians OVER the scarcity of new naira notes, the Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, Tuesday, insisted that there was no need to shift the February 10, 2023 deadline for the swapping of old Naira notes.
This was as citizens continued to complain of excruciating cash squeeze caused by the implementation of the currency redesign programme.
Emefiele, while addressing the diplomatic community in Abuja on Tuesday, said pointedly that there was no need to extend the deadline again as, according to him, the pressure induced by the programme had substantially eased.
“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents,” he said. “There is, therefore, no need to consider any shift from the deadline of February 10.”
The Crest recalls that the apex bank had, last October, announced the redesign of N200, N500, and N1,000 notes, and asked Nigerians to deposit their old notes before January 31, 2023 when the currencies would cease to be legal tender.
Following the uproar induced by the implementation of the policy, occasioned by the extreme difficulties in getting the new notes, as well as the attendant cash squeeze, the CBN shifted the deadline to February 10, 2023.
The Supreme Court weighed into the matter in a ruling in a suit filed against the Federal Government by the governments of Zamfara, Kogi and Kaduna States, ruling that the February 10 deadline should bejettisoned pending the hearing of the matter.
