Emefiele Says – “No need shifting February 10 deadline”

published by MLL | Tuesday, 14th February, 2023 | Finance

Source: The Nation Newspapers

It has been reported that the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has said that there was no need to shift the February 10, 2023 deadline.

The Nation had reported that the Supreme Court granted an interim injunction restraining the Federal Government and the CBN from enforcing the February 10 deadline for the phasing out of the old naira notes.

However Emefiele, during a visit to the Ministry of Foreign Affairs to discuss the monetary and currency redesign policy of, said shifting the February 10 deadline was needless.

He said: “The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.

“There is, therefore, no need to consider any shift from the deadline of February 10.”

The head of the apex bank also stated that Point-of-Sale agents, who charge above N200 for cash swaps will be arrested and jailed when caught.