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CBN extends old Naira note deadline to 10 February

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The Central Bank of Nigeria (CBN) has extended the deadline for the use of the old notes till 10 February.

Before the CBN Governor, Mr Godwin Emefiele made the announcement in a statement on Sunday, the initial deadline was Tuesday, 31 January.

The regulatory bank said it added a 10-day extension of the deadline “to allow for the collection of more old notes…”

Up till Saturday, CBN had inisted on the 31 January deadline for the validity of the old N200, N500 and N1,000 despite overwhelming complains that the notes are either not available or in short supply in the banks or their Automated Teller Machines.

Last October, Emefiele announced the Naira redesign policy which entails the issuance of new notes to replace the existing N200, N500 and N1,000 series.

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