CBN extends deadline for old naira notes to Feb 10

The Central Bank of Nigeria (CBN) has extended the deadline for the use of the old notes till February 10.

CBN Governor, Godwin Emefiele, announced the extension in a statement on Sunday, January 29, 2023.

“Based on the foregoing, we have sought and obtained Mr President’s approval for the following: a 10-day extension of the deadline from January 31, 2023, to February 10, 2023; to allow for collection of more old notes legitimately held by  Nigerians and  achieve more success in cash swap in our rural communities  after  which all  old notes outside the CBN loses their Legal Tender Status.

Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.

A 7-day grace period, beginning on February 10 to February 17, 2023, in compliance with Sections 20(3) and 22 of the CBN Act, allowing Nigerians to deposit their old notes at the CBN after the February deadline when the  old currency would have lost its Legal Tender status,” he said.