The Central Bank of Nigeria (CBN) Governor ,Godwin Emefiele has said that the apex bank will continue to accept the old naira notes even after the deadline for swapping with the newly-designed currency notes.
The apex bank recently extended the deadline for the swap of the newly-designed N1,000, N500, and N200 notes following an outcry from Nigerians.
Emefiele,while appearing before the House of Representatives committee on the new naira redesign and swap policy Tuesday, disclosed that the CBN will still accept the old notes after the deadline.
He said subject to Section 20, Subsection 3 of the CBN Act 2007 and even after the old currencies have lost legal tender status, the CBN will continue to accept the old notes.
The CBN chief who had earlier failed to honour the House’s invitations explained to the lawmakers that he was out of the country.
Emefiele said, “We (CBN) are mandated to collect these money (old naira notes) and I stand with the House of Representatives on this.”
“What does that mean? It could (old naira notes) have lost its legal tender status which means we have moved on. But if you have your money that you have not been able to send to the bank, we will certainly give you the opportunity to bring them back into the CBN to redeem it. Either you pay it to your bank account or you want to do exchange, we will give you. You will not lose your money. That is the assurance I give to Nigerians.”
(Channels TV)
CBN,New Naira Notes,Godwin Emefiele
