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Emefiele updated the media on the deadline for depositing old currency.

There will be no further extensions to the deadline for depositing old Naira Notes- Emefiele. 



Emefiele updated the media on the deadline for depositing old currency.


The Central Bank Governor, Mr. Godwin Emefiele, briefs the media in Lagos and says there will be no further extension in the deadline for depositing old series of N200, N500, and N1,000 banknotes.


NewsReport gathered that, Mr. Godwin Emefiele, pleads with Nigerians to remain calm and patient as the CBN and deposit money banks are working to address the challenge of cash distribution.

This information was gathered on the CBN official Twitter handle: “We call on all Nigerians to be calm, law-abiding, and considerate of their fellow citizens (particularly the vulnerable and weak) in the conduct of their affairs as we execute this policy of national significance.”

Emefiele, Governor of the Central Bank of Nigeria, has warned that those who abuse or sell the naira in violation of the CBN Act will be prosecuted in the future.

The Naira redesign project is not targeted at anyone but Nigerians and the Nigerian economy. The CBN Governor assures that there is an adequate amount of currency (redesigned N200, N500, and N1,000 denominations and current N100, N50, N20, N10, and N5 denominations) available to support economic activities.

The CBN is committed to ensuring a seamless, inclusive, and equitable implementation of the redesign exercise for the overall benefit of the people, financial system, and Nigerian economy as a whole.

“The advantages of the currency redesign are overwhelmingly enormous and will benefit the economy in the long run.”

“We will take all the necessary steps to ensure that there will be a smooth flow of cash swaps and minimize the inconvenience in the short term.” Emefiele





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