Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has assured the House of Representatives of the Federal Republic of Nigeria, that, no Nigerian will lose money under the Naira redesign project.
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| Central Bank of Nigeria (CBN) |
During a meeting with the ad-hoc Committee of the House of Representatives, on the review of the cashless policy of the Central Bank of Nigeria, as well as the currency swap, Godwin Emefiele emphasized that, the old series of Naira notes (₦1,000, ₦500, and ₦200) will lose legal tender status after February 10, 2023.
The Central Bank of Nigeria (CBN) has initially announced the old series of Naira notes (₦1,000, ₦500, and ₦200) will lose its legal tender status on January 31, 2023, however, the Apex Bank officially declared a ten-day extension from deadline for the exchange of old notes.
The new deadline for the exchange of old notes is February 10, 2023.
Emefiele said: “The Naira redesign project is in the overall interest of Nigerians and the economy.”
The House of Representatives has pledged to give the Central Bank of Nigeria (CBN) all needed support to achieve its Naira Redesign Project and Cashless Policy.
