Despite a court decision, CBN is adamant about upholding the Feb. 10 deadline for outdated notes
The Central Bank of Nigeria (CBN) has reaffirmed that the old naira note deadline ofFebruary 10 is still in effect. The statement was made by CBN Governor Godwin Emefiele on Tuesday during a briefing for the diplomatic corps at the ministry of foreign affairs in Abuja.
The development occurs notwithstanding the supreme court's ex parte injunction prohibiting the federal government from enforcing the deadline of February 10 while the case is being heard on February 15.
Since the introduction of over-the-counter payments to supplement ATM withdrawals and the deployment of super-agents, the situation has significantly calmed down, according to Emefiele.
Therefore, there is no need to think about changing the February 10 deadline.
More to come...