Nigerians won’t lose old notes after deadline

CBN zata cigaba da ansar tsofaffin kudi har bayan lokacin kin ansa

After the deadline, the old naira notes can only be deposited to the bank, not to be recycled back into the economy.

Koda bayan 10 ga Fabrairu, Babban Bankin Nigeria zai ci gaba da karbar tsofaffin kudade (change) har sai sun kare a hannun jama’a, kamar yadda sashi 20(30 na dokar da ta kafa Bankin (CBN Act) ta tanadar.

The Governor of the Central Bank of Nigeria (CBN), Godwin Emiefele, who appeared before the House of Representatives ad hoc Committee, said Nigerians won’t lose the old notes after the February 10 extended deadline.

He said while the old notes cease to be legal tenders after the expiration of the deadline, Nigerians can still take them to the bank for exchange of new notes or deposit the old notes in their accounts.

Section 20(3) of the CBN Act, 2007 provides that the Apex Bank should continue to accept the old notes until they are phased out of circulation.


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