{"id":245105,"date":"2023-01-29T12:10:06","date_gmt":"2023-01-29T11:10:06","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=245105"},"modified":"2023-01-29T12:10:06","modified_gmt":"2023-01-29T11:10:06","slug":"breaking-cbn-extends-use-of-old-naira-notes","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/01\/29\/breaking-cbn-extends-use-of-old-naira-notes\/","title":{"rendered":"BREAKING: CBN extends use of old Naira notes"},"content":{"rendered":"<p>The Central Bank of Nigeria has finally extended the deadline for the exchange of old naira notes by 10 days.<\/p>\n<p>In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.<\/p>\n<p>A seven-day grace period, beginning on February 10 to February 17,2023, has also been approved to enable Nigerians to deposit their old notes at the <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/01\/29\/new-naira-it-has-not-turned-out-as-planned-northern-elders-send-warning-to-cbn\/\">CBN<\/a> after the February deadline when the old currency would have lost its Legal Tender status.<\/p>\n<p>10-day extension of the deadline from<br \/>\nJanuary 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.\u201d<\/p>\n<p>Whiile, \u201cA 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.\u201d<\/p>\n<p>This followed the President\u2019s meeting with the apex bank\u2019s governor, Godwin Emefiele, in his country home in Daura, Katsina State on Sunday.<\/p>\n<p>Emefiele briefed correspondents after the meeting, revealing that 75 percent of the N2.7 trillion held outside the banking system has been recovered.<\/p>\n<p>He said: \u201cWe 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.<\/p>\n<p>\u201cAside 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.<\/p>\n<p>\u201cBased on the foregoing, we have sought and obtained Mr President\u2019s approval for the following:<\/p>\n<p>\u201cOur CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.<\/p>\n<p>\u201cWe 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.\u201d<\/p>\n<p>More details to come later\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Nigeria has finally extended the deadline for the exchange of old naira notes by 10 days. In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023. A seven-day grace period, beginning on February 10 to February 17,2023, has also been approved [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":245055,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[5],"tags":[658,37412,53907,39630],"class_list":["post-245105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","tag-cbn","tag-godwin","tag-old-naira-notes","tag-sunday"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BREAKING: CBN extends use of old Naira notes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2023\/01\/29\/breaking-cbn-extends-use-of-old-naira-notes\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: CBN extends use of old Naira notes\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria has finally extended the deadline for the exchange of old naira notes by 10 days. 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