Buhari oks a 10-day extension of old naira exchange.

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In Daura, Katsina State, on Sunday, President Muhammadu Buhari gave his approval for a 10-day extension of the deadline for switching over to new currency.

The revised date is now February 10, according to the Central Bank of Nigeria (CBN) Governor, who confirmed this to journalists in Daura, Katsina State, according to the News Agency of Nigeria (NAN).

In a meeting behind closed doors, Emefiele, who was in Daura on Sunday morning, received the go-ahead from the Buhari.

He stated that Nigerians who had not yet switched their old Naira notes for new ones “now have the opportunity to do so.”

However, the governor of the top bank issued a warning, urging people to take advantage of the chance since it wouldn’t be extended again.

The CBN had set January 31 as the cutoff date for the validity of the old Naira notes prior to the recent move to extend the deadline.

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Following Buhari’s unveiling of the newly redesigned Naira notes in Abuja on November 23, 2022, which included denominations of N200, N500, and N1,000, they were made legal tender on December 15, 2022.

NAN correspondents throughout the nation reported on Saturday that merchants and business owners were requesting replacement notes from customers.

Additionally, it was found that some Automated Teller Machines (ATMs) were still issuing the old Naira notes in various regions, including the Federal Capital Territory (FCT), while there were huge lines at some ATMs dispensing the new Naira notes.

While some banks were issuing the new notes, Additionally, some Point of Sale (PoS) operators continued to accept the outdated Naira notes, while others that used the newer notes raised their prices by 100–200%. (NAN)

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