VOICE AIR MEDIA News Update
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says Deposit of old naira notes to continue after February 17th, 2023 in banks, Voice Air Media reports.
Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redesign and naira swap policy.
He said the CBN will also accept the old naira from banks after the February 10 deadline.
Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.
Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.
Further details later….
Do you have any information you wish to share with us? Do you want us to cover your event or programme? For Adverts or report call/WhatsApp us on +2348072633727
Chelsea Football Club have sacked head coach, Liam Rosenior, after just 107 days in charge,…
News Update Ondo State Governor, Dr Lucky Orimisan Aiyedatiwa, on Wednesday intensified calls for unity…
THE federal government, state governments and local government councils shared a total of N2.036 trillion…
Nigeria has recorded a fresh case of COVID-19. The newest case was confirmed in Cross…
News Update President Bola Tinubu on Wednesday, approved six new appointments in the education sector.…
News Update THE outgoing Minister of Finance and Coordinating Minister of the Economy, Wale Edun,…