Naira Swap deadline now extended till February 10

The Federal Government has extended the deadline for the swapping of the old Naira notes for the new ones till February 10.

This was announced on Sunday by Dr. Godwin Emefiele, the governor of the Central Bank.

He cited the suffering Nigerians are facing as a result of the proposed swap as reason for extension.

“Based on the foregoing, we have sought and obtained Mr President’s approval for the following: a 10-day extension of the deadline from January 31, 2023, to February 10, 2023; to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN loses their Legal Tender Status. Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.

“A 7-day grace period, beginning on February 10 to February 17, 2023, in compliance with Sections 20(3) and 22 of the CBN Act, allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.”