We Will Not Extend February 10 Deadline – Central Bank Governor, Emefiele Dares Nigerians


The Central Bank of Nigeria (CBN) has said it is not considering deadline extension for the phasing out of the old Naira notes after the 10-day grace recently approved by President Muhammadu Buhari.

Nigerians, including governors elected on the platform of the All Progressives Congress (APC), have asked the apex bank for an extension owing to the scarcity of the redesigned Naira notes.


Speaking at a briefing in Lagos State, the CBN governor, Godwin Emefiele, appealed to Nigerians to exercise patience noting that the gains of the policy outweighed the initial challenges, Authentic reports.

“I want to say unfortunately again, this time, we will not be looking at extension of deadline because we are the Central Bank and the deposit money banks are doing everything to address the challenges,” he said.


He also said the redesigned naira policy was not targeted at anyone, re-emphasising that the policy is aimed at economic benefits.

He also appealed to Nigerians not to allow themselves to be used to truncate the policy.

“We are doing our work. We are bankers. Those holding protest should not allow themselves to be used,” he said.

He begged Nigerians to show understanding and accept to join queue at the banks.


President Muhammadu Buhari had asked Nigerians to give him seven days to take a major decision on the naira redesign policy.

He said this after APC governors met with him at Aso Rock earlier in the day.



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