Central Bank of Nigeria says February 10 deadline on old notes remains

Flouts Supreme Court order

Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has insisted that the apex bank February 10 deadline for the validity of old naira notes still remains.


He said this while speaking to the diplomatic community at the ministry of foreign affairs in Abuja on Tuesday.


The latest stance by the CBN governor comes despite the ex parte order of the supreme court which restrained the federal government from implementing the February 10 deadline, pending the hearing of the matter on February 15.


However, while speaking at the event, Emefiele said there was no need to extend the deadline.


“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents,” Emefiele said.


“There is, therefore, no need to consider any shift from the deadline of February 10.


“Some of our leaders are buying the new notes and storing them for whatever purposes. I will not be direct here,” Emefiele added.

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