Old Naira: CBN extends deadline

President Muhammadu Buhari has approved the Central Bank of Nigeria’s request for the extension of the deadline for swapping of old Naira notes to the redesigned ones.

The new deadline is January 31, 2023 to February 10, 2023.

A seven-day grace period, beginning on February 10 to February 17,2023, has also been approved to enable Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.

The President gave the approval during a meeting with the apex bank’s governor, Godwin Emefiele, in his country home in Daura, Katsina State today.

Briefing correspondents after the meeting, Mr Emefiele stated that 75 percent of the 2.7 trillion naira held outside the banking system has been recovered.