New Naira: There Will Be No Further Extension Of Deadline, Emefiele Insists

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has insisted that  there’ll be no further extension for the cessation of the use of the old naira notes as legal tender, after the February 10 deadline.

He made the statement at a special briefing of journalists at the CBN office in Lagos on Friday.

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

He assured that the CBN 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.

The CBN governor further stated that the CBN is discussing with banks to make alternative channels easily accessible.