[Breaking] Deadline on old naira notes: Amidst Senate stand, CBN announces final decision

The Central Bank of Nigeria (CBN) has ruled out any possibility of extending or shifting the deadline on the deposit of the old naira notes.

This was disclosed during a press briefing at the end of the first Monetary Policy Committee (MPC) in Abuja on Tuesday, January 24, 2023.

Governor Godwin Emefiele apologised to Nigerians for not extending the deadline but stated that 100 days from when the announcement was made to the expiration date was enough for Nigerians to deposit their old notes.

The CBN governor also noted that the Committee has decided to aggressively increase the interest rate to 17.5 percent.

Details Shortly…

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