Old naira: New CBN deadline February 10, no solution to new naira scarcity

The Central Bank of Nigeria has extended deadline for the swapping of old naira notes till February 10, 2023.

The CBN said this in a statement on Sunday.

The apex bank said it added “a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection of more old notes”

The CBN governor, was quoted to have said he had the approval of President Muhammadu Buhari for the extension.

Emefiele spoke in Daura, Katsina State, after a meeting with the president who is in his home state for official duties.

Emefiele said Nigerians, who had yet to change their naira notes from the old to new ones, would have an opportunity to do so.

He said the deadline will not be extended again.

Emefiele did not, however, explain what the CBN was  doing to resolve the scarcity of the new notes.