Friday, May 2, 2025

BREAKING: CBN extends deadline for old naira notes by 10 days

Must read

Rayyan Alhassan
Rayyan Alhassanhttps://dailynigerian.com/author/rayyan/
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via rayyanalhassan@dailynigerian.com, or www.facebook.com/RayyanAlhassan, or @Rayyan88 on Twitter.
- Advertisement -
tiamin rice
tiamin rice

President Muhammadu Buhari on Sunday in Daura, Katsina State, approved a 10-day extension of the deadline for the swapping of currency to new notes.

The News Agency of Nigeria reports that the Governor of the Central Bank of Nigeria, CBN, who confirmed this to newsmen in Daura, Katsina State, revealed that the new deadline is now February 10.

Mr Emefiele, who was in Daura on Sunday morning, had a closed door meeting with the Buhari, where he obtained the approval.

tiamin rice

He said Nigerians, who were yet to change their Naira notes from the old to new ones, ”now have an opportunity to do so”.

READ ALSO:   Sani-Bello hails Buhari for appointing Wushishi as NECO Registrar

The apex bank’s governor however cautioned that people must utilise the opportunity because the deadline would not be extended again.

NAN recalls that the CBN had fixed January 31 as the deadline for the legitimacy of the old naira notes.

whatsApp

The redesigned Naira notes, comprising N200, N500 and N1,000, became legal tender on December 15, 2022, after they were unveiled by Buhari on November 23, 2022, in Abuja.

Reports by correspondents of NAN across the country on Saturday indicated that traders and business owners were asking their customers to pay with new notes.

It was also discovered that some of the Automated Teller Machines, ATMs across states including the Federal Capital Territory, FCT, were still dispensing the old Naira notes,  while there were long queues at few ATMs dispensing the redesigned Naira notes.

READ ALSO:   FIRS board dissolves staff union

Some banks dispensing the new notes had configured their ATMs to dispense N5,000 or N10,000 per transaction.

Also, some Point of Sale, PoS, operators were still paying with old Naira notes,  while some who had the redesigned Naira notes increased their charges by 100 to 200 per cent.

NAN

- Advertisement -

More articles

- Advertisement -

Latest article

- Advertisement -