No Extension Of Deadline For Old Naira Notes Swapping – Emefiele

No Extension Of Deadline For Old Naira Notes Swapping – Emefiele

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the apex bank is not considering extending the deadline for the swapping of the old naira notes with the newly redesigned notes.

Emefiele made this known on Friday while addressing journalists in Lagos State, hours after President Muhammadu Buhari met with Governors of the All Progressives Congress (APC) at the Presidential Villa, Abuja.

According to Emefiele, the CBN acknowledges the pains Nigerians are facing in accessing the new naira notes and are working on closing the gaps observed in the circulation process.


Emefiele said the apex bank will extend cash swap to microfinance banks and engage 30,000 super agents in the hinterlands as part of new measures to accelerate the circulation of new naira notes and ease the scarcity of the new naira notes.

According to Emefiele, the CBN is discussing with banks to make alternative Channels easily accessible and easy for Nigerians.

Recall that the apex bank has fixed February 10 as the new deadline for the swap of old naira notes.

The CBN initially fixed January 31 as the deadline but many Nigerians have not been able to get the new N200, N500, and N1000 notes, prompting a scarcity in the country.

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