New Notes: February 10 Deadline Stands, as Emefiele Says No Need for Extension

The Governor of the Central Bank of Nigeria (CBN),  Mr. Godwin Emefiele, Tuesday said there was no need to shift the February 10 deadline for the return of old Naira notes following the currency redesign programme.

The CBN Governor Godwin Emefiele said this on Tuesday during a meeting with members of the diplomatic corps in Abuja.

He acknowledged the inconveniences caused by the naira redesign policy including hoarding and an elevated agitation but called on Nigerians, especially those in authority, not to exaggerate it so as not to create panic.

Acknowledging that the transition to embracing the new naira notes may be challenging, the CBN boss reiterated that the benefits are enormous and will lead to a cashless policy.

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.”