The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has insisted there is no going back on the deadline earlier given for the old naira notes to be withdrawn from circulation.
Speaking on Tuesday at the Ministry of Foreign Affairs in Abuja, the CBN Governor said the naira scarcity situation is already calming down hence no need to shift the February 10 deadline as earlier announced.
Emefiele was at the Ministry to discuss the monetary and currency redesign policy of the apex bank.
According to him, there is no need to consider any shift in the deadline.
“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.
“There is, therefore, no need to consider any shift from the deadline of February 10,” Emefiele was quoted to have said.
He also threatened that Point-of-Sale agents, who charge above N200 for cash swaps will be arrested and jailed if caught in such practices.
