A cross section of Nigerians and managing authorities of commercial banks have asked the Central Bank of Nigeria to extend the January 31 deadline for old naira notes. The old notes are expected to be out of circulation by January 31 yet there is scarcity of the new notes as banks keep dispensing old notes to their customers. But different stakeholders had been mounting pressure on the apex bank to extend the deadline in order to allow the new notes to circulate well and ensure the mop up of the old notes, PUNCH reports.
Nigeria's Central Bank Under Pressure From Stakeholders To Extend January 31 Deadline For Old Naira NotesIt was learnt that prominent among the stakeholders were managing directors of banks and their management teams.A cross section of Nigerians and managing authorities of commercial banks have asked the Central Bank of Nigeria to extend the January 31 deadline for old naira notes.
It was learnt that prominent among the stakeholders were managing directors of banks and their management teams, but a source close to the chief executive of a Tier-1 lender said on Friday that the bank managing directors could not make the call for the deadline extension openly as the decision on the redesign of the naira had their approval.
A senior CBN official on Friday said the apex bank might yield to the pressure for extension of the deadline. “From the look of things, most certainly, a new deadline may be announced before the end of the month or during the MPC meeting coming up between January 24 and 25.”
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