Cbn news today on old naira notes
Here are the latest updates on the CBN news regarding old naira notes:
Breaking News: CBN Extends Deadline for Old Naira Notes
The Central Bank of Nigeria (CBN) has extended the deadline for the use of old naira notes (N200, N500, and N1,000) from February 10 to February 17, 2023. This means that individuals and businesses can still use the old notes to make transactions until the new deadline.
Reason for Extension:
The CBN Governor, Godwin Emefiele, explained that the extension is necessary to give more time to Nigerians to deposit their old notes at commercial banks and to ensure a smooth transition to the new naira notes.
What You Need to Know:
- The old naira notes can still be used for transactions until February 17, 2023.
- Commercial banks will continue to accept deposits of old naira notes until the new deadline.
- The CBN has also extended the deadline for the deposit of old naira notes at commercial banks to February 17, 2023.
- The CBN has assured that the new naira notes are available in sufficient quantities and are being distributed to commercial banks across the country.
What's Next:
After the new deadline, the old naira notes will no longer be accepted as legal tender. The CBN has warned that anyone found with the old notes after the deadline may face penalties, including fines and even imprisonment.
Stay Informed:
For the latest updates on the CBN's policies and guidelines, please visit the CBN's official website or follow reputable news sources.