FEATURED
BREAKING: Buhari Approves CBN’s Request To Extend Old Naira Swap By 10-day
President Muhammadu Buhari, Sunday in Daura, approved the Central Bank of Nigeria’s (CBN) request of 10 days extension of the deadline for swapping of old Naira notes to the redesigned ones.
The new deadline is February 10, 2023 as against January 31, 2023.
Nigerians would have a seven-day grace period, starting on February 10 and ending on February 17, 2023, to surrender their old notes at the CBN beyond the deadline, when the old currency will have lost its legal tender status.
This followed the President’s meeting with the apex bank’s governor, Godwin Emefiele, in his country home in Daura, Katsina State on Sunday.
Emefiele, who spoke to correspondents after the meeting, revealed that 75 percent of the N2.7 trillion held outside the banking system has been recovered.
He said: “We are happy that so far, the exercise has achieved a success rate of over 75 percent of the N2.7 trillion held outside the banking system. Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise.
“Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange.
“Based on the foregoing, we have sought and obtained Mr President’s approval for the following:
“10-day extension of the deadline from January 31, 2023, to February 10, 2023; to legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.
“Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.
“A 7-day grace period, beginning on February 10 to February 17,2023, in
compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old
currency would have lost its Legal Tender status.
“We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free the implementation of this very important process for program.”
Details later…
(Sunday Sun)
Makinde Receives Two Surveillance Aircraft, Partners Air Force to Bolster Oyo Security
OBOREVWORI’S IMPOSITION BACKFIRES AS APC LEADERS, MEMBERS BOO EDE DAFINONE IN DELTA CENTRAL, BY EJIRO AWHOTU
25-year-old Woman Allegedly Cuts Off Boyfriend’s Manhood After Learning He Wanted to Marry Another Woman
Sowore Drops Bid to Summon DSS Boss as AGF Challenges Subpoena in Defamation Trial
“DSS Mistook a Cat for Me” — Sunday Igboho Recounts Dramatic Escape During 2021 Raid
BREAKING: Appeal Court Voids Order Deregistering ADC, Four Other Political Parties
Atiku Condemns Kaduna Massacre, Says Nigerians Need Security, Not Promises
Oshiomhole Backs ‘Shoot Armed Criminals on Sight’, Says Insecurity Biggest Threat to Tinubu’s Re-election
Why Okowa Says Tinubu Deserves a Second Term to Solidify Nigeria’s Progress
US Warns Nigerians: Visa Expiry Date Does Not Determine How Long You Can Stay
We Have the Right to Deal With Illegal Migration— South Africa Fires Back at Nigeria
Fake Agency Saga: No Evidence Links Gbajabiamila to Alleged Fraud, Analyst Insists
Female Suspect Among Nine Phone Stealing Syndicate Nabbed in Asaba
2027: Obasanjo’s ‘Obi-Kwakwanso Game Plan’ Trigger Controversy as Group Accuses Him of Secretly Backing Tinubu
