By Abdullaha Bello
President Muhammadu Buhari has approved the Central Bank of Nigeria’s request for a 10-day extension of the deadline for swapping of old Naira notes to the redesigned ones.
The President has also approved the apex bank’s proposition seeking Nigerians to deposit their old notes at the CBN after the February deadline when the old currency will have ceased to be legal tender.
The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, who gave this indication in Daura, Katsina State, after he met with President Buhari said the 7-day grace period would begin from 1st February to the 17th of the month.
Mr. Emefiele said 75 percent of the N2.7 trillion held outside the banking system had been recovered.
He said apart from those holding illicit or stolen Naira in their homes for speculative purposes, the government aimed at giving Nigerians in legitimate possession of Naira the opportunity to deposit their legitimately trapped monies at the CBN for exchange.
Mr. Emefiele said members of staff of the Central Bank and with officials of the EFCC and the ICPC would continue to work on mass mobilisation and monitoring to achieve the set objectives.
He appealed to Nigerians to work with the Central Bank to ensure a hitch-free implementation of the exercise.