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Sunday, 29 January 2023 05:30

New Naira Note: Powerful Nigerians Mount Pressure On Govt To Extend January 31 Deadline

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Saturday insisted that the January 31st 2023 deadline for the exchange of old Naira notes for new notes still stands.

The apex bank in a post on its Twitter account revealed that the timeline given for mopping up old naira notes of N1, 000, N500 and N200 will not be shifted.

However, there are reports that some powerful Nigerians have mounted pressure on the Federal Government to compel CBN to extend the January 31st deadline to allow Nigerians to exchange their old notes.

A source that spoke with The Nation said Emirs, religious leaders and several others have reached out to the federal government on the issue.

The source said, “Powerful and influential Nigerians have mounted pressure on the government to compel the CBN to extend the January 31 deadline for the old naira notes to cease to be a legal tender.

“Among those who have made their positions known to the government and called for an extension of the deadline are top Emirs, royal fathers, spiritual leaders and elder statesmen.

“Their concern is the serious consequences the CBN stance will have on the economy and the attendant loss of goodwill by the government.

“Some of them were worried that there was anxiety over the scarcity of the new notes which may lead to protests and strikes against the government.

“They said as of Friday, many banks were still dispensing the old notes. To complicate matters, many traders and departmental stores were rejecting the old notes.”

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