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New Naira Notes: No Need Shifting February 10 Deadline –CBN Gov, Emefiele

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Confusion As CBN Debunks Asking Banks To Accept Old N500, N1000 Banknotes

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

The Nation had reported 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.

But Emefiele, during a visit to the Ministry of Foreign Affairs to discuss the monetary and currency redesign policy, said shifting the February 10 deadline was needless.

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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.”

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The apex bank boss also said that Point-of-Sale agents, who charge above N200 for cash swaps will be arrested and jailed when caught.

Hammed Tajudeen is a graduate of Osun State Polytechnic, Iree with Higher National Diploma (HND) in Mass Communication

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