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HomeNewsJust In: CBN insists on Feb 10 deadline, says old notes no...

Just In: CBN insists on Feb 10 deadline, says old notes no longer legal tender

The Central Bank of Nigeria (CBN) has insisted that it will not backpedal on the February 10 deadline for phasing out the old Naira notes.

The announcement was made by Emefiele on Tuesday when he visited the Ministry of Foreign Affairs to discuss the bank’s monetary and currency redesign policy.

The Punch reported that Godwin Emefiele, the CBN governor said he had seen no need to shift the earlier deadline.

READ ALSO: Breaking: CBN extend deadline for swapping old Naira notes to February 10

According to him, the scarcity of New Naira notes has gradually calmed down after the apex bank ordered that customers should be paid over the counter.

“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents. There is, therefore, no need to consider any shift from the deadline of February 10,” he said.

READ ALSO: N100k each: Terrorist members distribute old naira notes to commuters ahead of CBN deadline

Nigerian family rejects old Naira notes as bride price

Meanwhile, a family in Niger State’s Gbako local government area refused old N1,000 and N500 notes from a man who wanted to marry their daughter.

According to Daily Trust, the suitor’s family visited the future in-laws with a specific amount of cash for the bride price and other expenses.

However, the girl’s family refused the cash and requested new Naira notes because they didn’t want the CBN’s deadline to phase out old notes to catch them unawares.

Asukwo Oduo
Asukwo Oduo
Asukwo is a fantastic writer who is excellent at many things, especially news writing and long-form articles. He is a great storyteller and can help help your brand connect with your target audience with crystal clear and persuasive communication. In addition, he is an avid reader interested in cryptocurrency, finance, sports, and research.
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