Christian Jonathan.
The CBN govonor, Mr Godwin Emefiele on Tuesday been the 31 Jan 2023 Clarified that while the deadline of Feb 10th to phase out the old notes N200 N500 and N1000 notes still stands, and that commercial banks in the country can still collect the old notes as provided in section 20 sub section 3 of the CBN act.
The CBN govonor Mr Godwin Emefiele spoke when he finally appeared before the House of Representatives adhoc committee on cashless policy.
It would also be recalled that on Thursday the House threatened to issue Warrent to the inspector general of police to compel the CBN governor to appear before the adhoc committee. And it is sequel to his absence in the first invitation to explain the issue surrounding the deadline to phase out the old naira note and the insufficient circulation of the redesign currency.
While speaking at the adhoc committee meeting, the CBN bose said, president Muhammadu Bihari gave the approval for the redesigned of the maria note since Oct 2022. He also said that the last time the currency were redesigned was about 19 years which ought to be 5-8 years according to global practice.
The CBN bose also said that the new niara notes are now in circulation across the the country through the CBN staff and bank agents in local government areas.
After much clerification from the CBN govonor, the chairman of the house adhoc committee Hon Alhassan Doguwa Commended the effort of the apex bank.
