{"id":68655,"date":"2023-01-29T12:40:27","date_gmt":"2023-01-29T11:40:27","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=68655"},"modified":"2023-01-29T12:40:27","modified_gmt":"2023-01-29T11:40:27","slug":"why-cbn-extend-old-naira-deadline-till-february-10","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/why-cbn-extend-old-naira-deadline-till-february-10\/","title":{"rendered":"Why CBN Extend Old Naira Deadline Till February 10"},"content":{"rendered":"
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The Central Bank of Nigeria has extended deadline for the swapping of old naira notes till February 10, 2023.<\/p>\n<\/div>\n

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The CBN stated this in a release on Sunday.<\/p>\n<\/div>\n

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The apex bank 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\u2026\u201d<\/p>\n<\/div>\n

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This is according to the CBN governor, Godwin Emefiele.<\/p>\n<\/div>\n

\nHe also noted that Nigerians would still be able to deposit their old notes directly with the CBN until February 17, 2023, described as \u201cgrace period.\u201d<\/p>

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There has been pressure from many Nigerians and groups concerning the initial January 31 deadline for the old notes, as the scarcity of the newly designed 200, 500, and 1000 naira notes prevailed in the country.<\/p>\n<\/div>\n

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Emefiele said,\u00a0 \u201cBased on the foregoing, we have sought and obtained Mr President\u2019s approval for the following: a 10-day extension of the deadline from January 31, 2023, to February 10, 2023; to allow for collection of more old notes\u00a0<\/i>legitimately held by\u00a0 Nigerians and\u00a0 achieve more success in cash swap in our rural communities after which all old notes outside the CBN loses their Legal Tender Status.<\/p>\n<\/div>\n

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\u201cOur CBN staff currently on mass mobilisation and monitoring together with officials of the Economic and Financial Crimes Commission and the Independent Corrupt Practices and other Related Offences Commission will work together to achieve these objectives.<\/p>\n<\/div>\n

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\u201cA seven-day grace period, beginning from February 10 to February 17, 2023, in compliance with Sections 20(3) and 22 of the CBN Act, allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.\u201d<\/p>\n<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

The Central Bank of Nigeria has extended deadline for the swapping of old naira notes till February 10, 2023.<\/p>\n","protected":false},"author":6,"featured_media":68656,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1593,17,624],"tags":[10142],"coauthors":[2391],"class_list":["post-68655","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-metro","category-news","category-politics","tag-old-naira-notes"],"yoast_head":"\nWhy CBN Extend Old Naira Deadline Till February 10 - National Wire<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria has extended deadline for the swapping of old naira notes till February 10, 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/why-cbn-extend-old-naira-deadline-till-february-10\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why CBN Extend Old Naira Deadline Till February 10 - 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