New naira note deadline update
As of my knowledge cutoff, the deadline for the old naira notes to be phased out in Nigeria was initially set for January 31, 2023, by the Central Bank of Nigeria (CBN). However, there have been several updates and extensions to the deadline.
Here are the latest updates:
- Initial Deadline: January 31, 2023 - The CBN initially announced that the old N200, N500, and N1,000 notes would cease to be a legal tender after January 31, 2023.
- First Extension: February 10, 2023 - The CBN extended the deadline to February 10, 2023, citing the need to give more time for Nigerians to deposit their old notes at banks.
- Second Extension: February 17, 2023 - The CBN further extended the deadline to February 17, 2023, to allow for more time for Nigerians to deposit their old notes.
- Current Status: As of now, the CBN has not announced a new deadline for the old naira notes to be phased out. However, it is expected that the deadline will be extended again to allow for more time for Nigerians to deposit their old notes.
It's essential to note that the CBN has been working to address the challenges faced by Nigerians in depositing their old notes, including issues with bank infrastructure, cash availability, and the need for more time to clear the old notes.
I recommend checking the official website of the Central Bank of Nigeria or reputable news sources for the latest updates on the deadline for the old naira notes.