We Won’t Shift Jan 31st Deadline Of Old Naira Notes, says Emefiele

Godwin Emefiele, the governor of the Central Bank of Nigeria, has declared that the CBN will not postpone the deadline for the old naira notes, which is January 31.


In light of some difficulties, there have been requests from many sources for the deadline to be extended.


But Emefiele stated, "I don't have good news for those who want the deadline of the old naira to be changed because we will not move it," in a speech at the bank's post Monetary Policy Committee conference on Tuesday in Abuja.


"People are vaulting and holding naira in their homes without a license because they use it to speculate on the naira, which is illegal."

He further stated that the apex bank has so far mopped up about N1.5 trillion, hoping to achieve about N2 trillion before the deadline.

"We have pleaded with the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) not to harass anybody, and on my honor, they will not do that."