Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has come out to plead with Nigerians to “remain calm”, that, the Apex Bank alongside deposit money banks are working tooth and nail to “address cash distribution challenges”.
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| Central Bank of Nigeria (CBN) |
While briefing media in Lagos, Emefiele said, there will be no further extension in the deadline for depositing old series of ₦200, ₦500 and ₦1,000 banknotes.
February 10, 2023 is the official deadline for depositing old banknotes.
Emefiele said: “We call on all Nigerians to be calm, law-abiding, and considerate of their fellow citizens (particularly the vulnerable and weak) in the conduct of their affairs as we execute this policy of national significance.
“The advantages of the currency redesign are overwhelmingly enormous and will benefit the economy in the long run.
“We will take all the necessary steps to ensure that there will be a smooth flow of cash swaps and minimize the inconvenience in the short term.”
According to the Central Bank of Nigeria (CBN):
Central Bank Governor, Mr. Godwin Emefiele Briefs Media in Lagos…says no further extension in the deadline for depositing old series of N200, N500, and N1,000 banknotes.
CBN Governor, Mr. Godwin Emefiele pleads with Nigerians to remain calm and patient as the CBN and deposit money banks are working to address the challenge of cash distribution.
Central Bank of Nigeria Governor, Emefiele, warns that those who abuse or sell the Naira, in contravention of the CBN Act, will be prosecuted henceforth.
Governor of the CBN, The Naira redesign project is not targeted at anyone but for the sake of Nigerians and the Nigerian economy.
CBN Governor, #Emefiele assures that there is an adequate amount of currency (redesigned N200, N500, and N1,000 denominations and current N100, N50, N20, N10 and N5 denominations) available to support economic activities.
Emefiele says the CBN is committed to ensuring a seamless, inclusive and equitable implementation of the redesign exercise for the overall benefit of the people, financial system and Nigerian economy as a whole.
