New Naira Notes: No Need For A Deadline Shift — Emefiele

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has stated that talks on shifting the deadline for the submission of the old N200, N500, and N1,000 are not necessary because the January 31 date will not be moved.

With the deadline just a few days away, citizens have continued to lament over banks not giving them the redesigned notes, asking for an extension.

Speaking on Tuesday in Abuja after the Monetary Policy Committee (MPC) meeting of the apex bank, Emefiele stated that the 90-day window given by CBN for Nigerians to turn in the old notes is sufficient.

“We called on the Deposit Money Banks (DMBs) to extend their working hours and to work on weekends.

“There is no reason to talk about a shift. The new currencies are available”, he said.

Speaking further, the CBN governor disclosed that DMBs have been mandated to feed the new notes into their Automated Teller Machines (ATMs) for Nigerians to have equal access.

“We have increased disbursement of the new notes to them. There is an adequate quantity of new notes available.

“Our mint is producing and we are supplying the banks. We have super agents in underserved areas like riverine communities, and CBN staff members have been out on mobilisation.

“We believe that by January 31, the new naira notes would have permeated the nooks and crannies of the country", he added.