CBN Extends Deadline For Use of The Old Naira Notes to February 10

The Central Bank of Nigeria (CBN) has extended the deadline for the use of Old Naira Notes (ONNs) to February 10. This will enable Nigerians to continue exchanging ONNs into any legal tender, including bank notes. “The CBN is committed to ensuring that all exchanges are conducted in accordance with its provisions and regulations,” it said in a statement on Sunday. The CBN had earlier announced that it would stop the exchang of ONNs on January 31st 2023—accordingly, they had to consider the situation of the masses. This will be a better time for people who are yet to deposit their ONNs to do so now.”

The CBN had earlier announced that it would stop the exchang of ONNs on January 31st 2023. The CBN is committed to ensuring that all exchanges are conducted in accordance with its provisions and regulations.

The decision was taken at a meeting on January 29, 2022 between the CBN governor and chiefs of staffs from all 16 regulatory agencies.

CBN said that it will provide necessary guidelines to facilitate exchange process in order to enable Nigerians continue exchanging ONNs into any legal tender, including bank notes.

The deadline announced by CNN has caused a lot of Nigerians to air out their views, on the radio stations and media platforms over why CBN should extend the ONNs. A lot of Nigerians are on the opinion that the banks ATM doesn’t dispense the new naira note.

“The CBN is committed to ensuring that all exchanges are conducted in accordance with its provisions and regulations,” it said in a statement on Sunday

The CBN is committed to ensuring that all exchanges are conducted in accordance with its provisions and regulations, it said in a statement on Sunday.

With this development, Nigerians will now have an additional two weeks to exchange their old notes for new ones after February 10 cut-off date for withdrawals from banks and ATMs.

The CBN had earlier announced that it would stop the exchang of ONNs on January 31st 2023. The central bank had to consider the situation of the masses who were being deprived of their legitimate rights by not allowing them to convert their notes into cash.

According to the CBN Governor Godswill Enefiele, they had to consider the situation of the masses. This will be a better time for people who are yet to deposit their ONNs to do so now.

The new deadline will enable Nigerians to continue exchanging ONNs into any legal tender, including bank notes.

The CBN has extended the deadline for the use of old Naira notes to February 10, 2023

The CBN is committed to ensuring that all exchanges are conducted in accordance with its provisions and regulations, as well as with transparency and accountability.

We thank you for your patience as we tried to make this system work better. We are happy that all the exchanges have been going smoothly, and we hope that this will continue with many more people continuing to exchange their ONNs into legal tender.