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We won’t move the deadline for old naira notes

Godwin Emefiele, the governor of the Central Bank of Nigeria, has declared that the CBN will not postpone the deadline for the old naira notes, which is January 31.

In light of some difficulties, there have been requests from many sources for the deadline to be extended.

But Emefiele stated, “I don’t have good news for those who want the deadline of the old naira to be changed because we will not move it,” in a speech at the bank’s post Monetary Policy Committee conference on Tuesday in Abuja.

People are vaulting and holding naira in their homes without a licence because they use it to speculate on the naira, which is illegal.

According to him, the apex bank has collected about N1.5 trillion so far, with the goal of reaching N2 trillion by the deadline.

“We begged the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) not to harass anyone, and on my honour, they won’t do that,” he stated.