Business News Nigeria

Breaking: CBN Governor Says Deposit of Old Naira Notes to Continue After February 17

CBN Governor has stated that Deposit of Old Naira Notes will Continue After February 17. He made this statement when he appeared before the House of Representatives which summoned him over the confusion caused by the redesign of some naira notes and the exchange of old naira notes with new ones.

Earlier, Godwin Emefiele, said President Muhammadu Buhari gave permission for the deadline to be extended to February 10.

The House had summoned Emefiele but he failed to appear in the two previous appointments with the lawmakers. The CBN had informed the House that Emefiele would not appear before the House in person, rather Ahmad would lead the Committee of Governors before the lawmakers.

Emefiele had also failed to answer two summons from the House’ ad hoc committee to investigate the scarcity of the new naira at the Deposit Money Banks, also known as commercial banks, leading to tension over the January 31 deadline set by the CBN for the exchange of the old notes with the newly designed ones.

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