Just In: CBN says January 31 Deadline For Old Naira Notes Remains

The Central Bank of Nigeria (CBN) has maintained its stand on January 31, 2023 deadline for the validity of the old N200, N500 and N1,000 notes remains.

This was announced by the CBN Governor, Godwin Emefiele following the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.

The apex bank raised the Monetary Policy Rate (MPR), which measures interest rate, to 17.5 percent.

According to Emefiele, kidnapping and ransom-taking have reduced since the three banknotes were redesigned.

He also said that the time given for the swap of the old naira notes with new ones were enough for Nigerians to go to commercial banks and get new notes.

More details soon…

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