Emefiele gives new directive on old naira notes

Nigerians with old notes can still deposit them at commercial banks even after the February 10 deadline, this is according to the Central Bank Governor, Godwin Emefiele.

Emefiele, who stated this on Tuesday while appearing before the House of Representatives ad hoc committee, said he is in agreement with the parliament on section 20 of the CBN act

It would be recalled that the lawmakers had accused Emefiele of breaching section 20 of the CBN act which mandates commercial banks to accept old notes.

He 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.