The Central Bank of Nigeria (CBN) has finally extended the deadline for the exchange of old naira notes by 10 days.
In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.
The CBN governor, who spoke to journalists Sunday morning, said he had the approval of President Muhammadu Buhari for the extension.
The new deadline is now 10 February instead of the former 31 January deadline, he said.
Mr. Emefiele spoke in Daura, Katsina State, after a meeting with the president who is in his home state for official duties.
Mr. Emefiele said Nigerians, who are yet to change their naira notes from the old to new ones, now have an opportunity to do so.
He said people must utilize the opportunity because the deadline will not be extended again.
CBN last October introduced redesigned 200, 500, and 1000 naira notes and gave a deadline of 31st January for the use of the old notes.
However, the new notes have been scarce, thus leading to calls for an extension.
Mr. Emefiele did not elaborate on what the central bank was doing to resolve the scarcity of the new notes.
More details later