Nigerians with old Naira notes can still deposit them at commercial banks even after the February 10 deadline, the Central Bank Governor, Godwin Emefiele said.
Emefiele stated this on Tuesday while appearing before the House of Representatives ad hoc committee.
While speaking at the hearing, Emefiele said he is in agreement with the parliament on section 20.
“Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this,” he said.
The CBN Governor explained further that “if you have your money that you have not been able to send to the bank. We will certainly give you the opportunity to bring them back into the CBN to redeem it. Either you pay it to your bank account or you want to do an exchange — we give you. You will not lose your money. This is the assurance I give to Nigerians,” he stated.
“In agreement with @HouseNGR resolution and subject to section 20, subsection 3 which says even after the old currency have lost its legal tender status that we are mandated to collect those monies. We will still continue to accept old notes into bank accounts”@GodwinIEmefiele pic.twitter.com/h5oCq1eZrE
— House of Reps NGR (@HouseNGR) January 31, 2023
