Nigeria’s apex bank, the Central Bank of Nigeria (CBN) says there is no going back on its February 10, 2023, deadline for the swapping of the old N1,000, N500, and N200 notes.
Meanwhile, there has been controversy over the deadline with some governors dragging the Central Bank of Nigeria (CBN) to the Supreme Court and the court restraining the apex bank from implementing the deadline.
However, the CBN maintained that the date remains sacrosanct.
The CBN Governor, Godwin Emefiele declared this on Tuesday during a meeting with members of the diplomatic corps in Abuja, the nation’s capital.
Emefiele further acknowledged the inconveniences caused by the naira redesign policy including hoarding and an elevated agitation but called on Nigerians, especially those in authority, not to exaggerate it so as not to create panic.
Also acknowledging that the transition to embracing the new naira notes may be challenging, the CBN boss emphasizes that the benefits are enormous and will lead to a cashless policy.
