The deadline of February 10, 2023, wasn’t necessary, according to Godwin Emefiele, Governor of the Central Bank of Nigeria.
In order to discuss the bank’s monetary and currency reform policies, he paid a visit to the Ministry of Foreign Affairs on Tuesday.
He claimed that since the introduction of over-the-counter payments to supplement ATM withdrawals and the usage of super-agents, things had significantly improved.
Therefore, there is no need to think about changing the February 10 deadline.
This comes as the Supreme Court earlier restrained the Federal Government from implementing the February 10 deadline for the currency swap.
A seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal Government, the Central Bank of Nigeria and commercial banks from implementing the Friday terminal date for the old naira notes.
However, the CBN governor insisted that there was no need to shift the deadline.
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He also said that Point of Sale agents who charge above N200 for cash swap will be arrested and jailed when caught.
The CBN governor further said that the PoS operators can come to the CBN to be compensated for any extra cost incurred in getting the new notes rather than charging a higher fee on customers.
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