.cenbank will accept old naira notes after deadline, says Emefiele (corrected) | TheCable
, governor of the Central Bank of Nigeria , says the bank will continue to accept old naira notes after the stipulated deadline.ad hoc committee on the currency redesign and naira swap policy.Emefiele made reference to the CBN act which mandates the apex bank to continue to accept old notes after its expiration.However, the CBN governor did not mention a duration when the banks will stop collecting the old notes.
Speaking further on the CBN act, he explained that even after the old currency has lost its legal tender status “we are mandated to collect these money and I stand with the house of representatives on this”.“What does that mean? It could 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.
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