Despite pressure, CBN vows to end circulation of old notes Jan 31

NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.

Quick Links

Contact

Adetoun Close, Off College Road, Ogba, Ikeja, Lagos State.

+234(0)8098020976, 07013416146, 08066020976

info@newsexpressngr.com

Find us on

Facebook

Twitter

Admin

Developed by Just Web Services

Despite pressure, CBN vows to end circulation of old notes Jan 31

News Express |29th Jan 2023 | 812

Emefiele

The Central Bank of Nigeria (CBN) has said there is no going back on the January 31 deadline for old naira notes.

The apex bank has been under pressure to shift the deadline over the scarcity of new naira notes.

Earlier on Saturday, the Arewa Consultative Forum (ACF) joined those calling for an extension of the deadline for the expiration and collection of old naira notes.

In a statement issued by Mallam Bello Galadanci, Publicity Secretary, Arewa Consultative Forum (ACF), Kano State Chapter, on Saturday, the group said the January 31 deadline set by the Federal Government had almost grounded socio-economic activities in the state.

The statement added that people’s refusal to accept the old naira notes in commercial transactions out of fear of possible inability to deposit the notes in commercial banks is causing untold hardship to the masses.

There have also been similar calls across the country.

But in a tweet on Saturday evening, CBN insisted that there was no going back on the deadline,

“Deadline for the return of old series of 200, 500 and 1000 naira notes remains January 31 2023,” it tweeted attaching a video of Godwin Emefiele, CBN governor, giving the stance of the bank on old notes at the last Monetary Policy Committee (MPC) meeting of the bank.

In the video, Emefiele said, ”Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies.

“The reason is because, just like the president has said more than two occasions and even to some people privately, 100 days is more than enough for anybody who has the old currency to deposit it in the banks. And we took every measure to ensure that all the banks were and are still open to accept deposits," he said.

Earlier, President Muhammadu Buhari had said CBN was coordinating the distribution of the new notes to avoid chaos.(Daily Trust)

Retrieving full detail for despite pressure cbn vows to end circulation of old notes jan 31...

Gamal Nkrumah, eldest son of Ghana’s first President, dies in Egypt

Gambari named Perry World House Distinguished Visiting Fellow

Keyamo mocks claim Tinubu’s APC speech was pre-recorded

Pan African Games begin with school bus up for grabs

Sanwo-Olu orders immediate repairs of Lagos roads

Tinubu’s NNPC order cuts deductions to N8.4tn – W’Bank

‘Obi Is Conversant With Data’, Kwankwaso Faults Shettima’s ‘Bogus Statistics’ Comment

Flooding Displaces Residents In 11 Nasarawa Communities As Lawmaker Seeks Urgent Government Aid

US Justice Department sues California for voter rolls, citing alleged noncitizens

Tesla unveils what it says is a flying car

15 major US media organizations move to unseal search warrant records for Rep. Ilhan Omar’s home

Israeli rights groups report 22 accounts of prisoners being shot by guards

Canada PM warns 'stakes are high' as Alberta separation vote nears

High school seniors, parents and college counselors grapple with applying to Cornell

China tells Israel to stop ‘forced establishment’ of West Bank settlements

Trump rules out use of nuclear weapons against Iran

India's 'cockroach' protesters set to return despite police crackdown

Iran-aligned Houthis launch deadly attack on Yemeni presidential palace in escalating campaign against Saudi Arabia

Factory championing women workers named world’s best new building

FIFAe Finals 2026, set for Saudi city of Jeddah, postponed amid Houthi attacks

Friday, October 16, 2026 10:06 AM

Loading banners

GOCOP Accredited Member

Despite pressure, CBN vows to end circulation of old notes Jan 31

News Express |29th Jan 2023 | 812

Emefiele

The Central Bank of Nigeria (CBN) has said there is no going back on the January 31 deadline for old naira notes.

The apex bank has been under pressure to shift the deadline over the scarcity of new naira notes.

Earlier on Saturday, the Arewa Consultative Forum (ACF) joined those calling for an extension of the deadline for the expiration and collection of old naira notes.

There have also been similar calls across the country.

But in a tweet on Saturday evening, CBN insisted that there was no going back on the deadline,

In the video, Emefiele said, ”Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies.

Earlier, President Muhammadu Buhari had said CBN was coordinating the distribution of the new notes to avoid chaos.(Daily Trust)

You may also like...

Gamal Nkrumah, eldest son of Ghana’s first President, dies in Egypt

Gambari named Perry World House Distinguished Visiting Fellow

Keyamo mocks claim Tinubu’s APC speech was pre-recorded

Pan African Games begin with school bus up for grabs

Sanwo-Olu orders immediate repairs of Lagos roads

Tinubu’s NNPC order cuts deductions to N8.4tn – W’Bank

‘Obi Is Conversant With Data’, Kwankwaso Faults Shettima’s ‘Bogus Statistics’ Comment

Flooding Displaces Residents In 11 Nasarawa Communities As Lawmaker Seeks Urgent Government Aid

US Justice Department sues California for voter rolls, citing alleged noncitizens

Tesla unveils what it says is a flying car

15 major US media organizations move to unseal search warrant records for Rep. Ilhan Omar’s home

Israeli rights groups report 22 accounts of prisoners being shot by guards

Canada PM warns 'stakes are high' as Alberta separation vote nears

High school seniors, parents and college counselors grapple with applying to Cornell

China tells Israel to stop ‘forced establishment’ of West Bank settlements

Trump rules out use of nuclear weapons against Iran

India's 'cockroach' protesters set to return despite police crackdown

Iran-aligned Houthis launch deadly attack on Yemeni presidential palace in escalating campaign against Saudi Arabia

Factory championing women workers named world’s best new building

FIFAe Finals 2026, set for Saudi city of Jeddah, postponed amid Houthi attacks

GOCOP Accredited Member

Quick Links

Categories

Contact

Find us on

Despite pressure, CBN vows to end circulation of old notes Jan 31

You may also like...

Gamal Nkrumah, eldest son of Ghana’s first President, dies in Egypt

Gambari named Perry World House Distinguished Visiting Fellow

Keyamo mocks claim Tinubu’s APC speech was pre-recorded

Pan African Games begin with school bus up for grabs

Sanwo-Olu orders immediate repairs of Lagos roads

Tinubu’s NNPC order cuts deductions to N8.4tn – W’Bank

‘Obi Is Conversant With Data’, Kwankwaso Faults Shettima’s ‘Bogus Statistics’ Comment

Flooding Displaces Residents In 11 Nasarawa Communities As Lawmaker Seeks Urgent Government Aid

US Justice Department sues California for voter rolls, citing alleged noncitizens

Tesla unveils what it says is a flying car

15 major US media organizations move to unseal search warrant records for Rep. Ilhan Omar’s home

Israeli rights groups report 22 accounts of prisoners being shot by guards

Canada PM warns 'stakes are high' as Alberta separation vote nears

High school seniors, parents and college counselors grapple with applying to Cornell

China tells Israel to stop ‘forced establishment’ of West Bank settlements

Trump rules out use of nuclear weapons against Iran

India's 'cockroach' protesters set to return despite police crackdown

Iran-aligned Houthis launch deadly attack on Yemeni presidential palace in escalating campaign against Saudi Arabia

Factory championing women workers named world’s best new building

FIFAe Finals 2026, set for Saudi city of Jeddah, postponed amid Houthi attacks

GOCOP Accredited Member

Despite pressure, CBN vows to end circulation of old notes Jan 31

Comments

Post Comment