Face Value Of Old Naira Notes Will Only Be Redeemable At The CBN Offices And Not At Any Commercial Bank After February 10 Deadline- CBN Informs Nigerians.
one month ago172 views
The Central Bank of Nigeria (CBN) has clarified the comments made earlier today by its boss, Godwin Emefiele, that the old ₦200, ₦500, and ₦1,000 will be accepted after the February 10, 2023, new deadline.
Emefiele, during his meeting with House of Representatives members, informed Nigerians that the apex bank will still accept the old Naira notes after the February 10 deadline.
In an interview with journalists in Abuja, the Director of the Corporate Communications Department at the CBN, Osita Nwanisobi, explained that the old notes would cease to be legal tender after February 10, 2023, and can no longer be used to transact any business. He mentioned that after the deadline, Nigerians would only be able to redeem the face value of the Naira notes only at the CBN and not at the commercial banks they bank with. He also added that the acceptance would be subject to meeting certain conditions. He, however, still needs to state the requirements to be completed.
The apex bank’s spokesman emphasized that in line with the provision of Section 20 (3) of the CBN Act, Nigerians would have the opportunity to “redeem the face value of the Naira only at the Central Bank after the currency had lost its legal tender status, subject to meeting certain conditions.”
However, he did not state the duration for the acceptance of the old notes after the deadline expiration on February 10.
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Naira∘Last activity one month ago
Explanation using pidgin for better understanding "CBN govo talk say...as things be like this now ehh... say old naira note nor go dey work after Feb 10th,2023. Him come talk say those people wey still get the old naira note go need to go CBN to deposit the money but onto with conditions. So all those people wey still get old naira note after Feb.10th go collect wotowotoporously😂😂😂😂😂" thank you🚶♂️🚶♂️🚶♂️
Naira∘Last activity one month ago
After February 10th, u can take ur billions to CBN and explain how u got it😁 this policy is targeted at politicians.
Naira∘Last activity one month ago
I like how CBN Governor deceived the House Of Representatives Committee today with English. Now they have explained what it’s means to Nigerians. Politicians wen never f!ght for citizens wan they f!ght citizens cos the matter affect dem 😂😂😂😂😂😂😂😂 una go chop all sack of naira in your possession 😂😂😂😂
Naira∘Last activity one month ago
I dnt understand how 3months is not enough for anyone to go deposit der money at the bank.. what was the point putting the law in the first place if some persons re gonna be excluded.. I dnt see any reason why anyone should go to CBN after 10th of Feb to deposit old naira notes
Naira∘Last activity one month ago
They are not doing this to punish poor people , is the thief in Nigeria they are targeting . Just we as human don’t have patient, people steal money and keep in their house and many of the Aboki who change dollar , have old Naira in their possession .
Naira∘Last activity one month ago
he’s saying that to circumvent and outsmart the house of assembly. technically he’s saying you’re on ur own after Feb 10. Do we know where CBN office is to go and deposit cash? So u want to take ur 30K to CBN office. Lol. That’s if the security allow u entrance sef. Lol.
Naira∘Last activity one month ago
Dem wan catch thief. No politician fit boldly carry him Money go Central Bank after deadline, for this period wey Buhari dey vex so. Any politician wey no go drop him money by February 10th, na expire him Money expire so. E don go (o ti lo)
Anonymous
one month ago
Naira∘Last activity one month ago
This is the only great wisdom Muhammadu Buhari has displaced since he took up power!
Naira∘Last activity one month ago
So all those money they hid, they can now go and change it at CBN, just wow! How many poor people will be going to CBN like this?
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CBN does not operate that way, you can’t just enter that place like that.. beside you are actually going there the give back their money not that they will give you in return’s. Any staff that tries to do mago mago, your job is at risk.
meanwhile you can only deposited the money there oo and you are not getting your money back, you’ll go to your bank and withdraw your money..
Naira∘Last activity one month ago
CBN governor only went to the house of assembly to calm their nerves and die the tension 😂,but in actual fact he still stood his ground, and left the Assembly members to mercy of CBN spokes person for more clarity(WISDOM)😂
Naira∘Last activity one month ago
Chai from what I understand from the whole buhaha is that CBN governor outsmart the house assembly people. So Feb 10th is the deadline, but na English confused them😂
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not only CBN, it will include the commercial bank but the old currency will seize to be legal tender from Feb 10 but will be redeemed by both CBN (final destination) and commercial bank whenever it is lodged.
Naira∘Last activity one month ago
Is like CBN is looking for crowd at their head office 😂😂after10th of February since commercial banks won’t be accepting old notes 😂If you don’t deposit your money after 10th Otilo😂😂 for our politicians
Naira∘Last activity one month ago
I don’t understand this whole things since when an individual starts going to the apex bank to deposit?? Una go see wetin dey find with dis old and new naira notes 🙄🙄
Naira∘Last activity one month ago
In other words you may still drop your old moneys at the bank but only the CBN can determine the value of the money since it’s no longer a legal tender.
Naira∘Last activity one month ago
It seems CBN is confused cause what's with all these back and forth. They should address the unavailability of the new notes in ATMs causing unnecessary charges from POS
Naira∘Last activity one month ago
I talked am earlier say na trap this man dey set for person 😢😢😢😢. Try your possible best to spend your old Note even before that February 10th. E get why.
Naira∘Last activity one month ago
He finally deceived dis old political men dat feels Dey know it all . Nwanne after Feb 10 Dey will understand emefelu very well
Naira∘Last activity one month ago
When they have bad missions! They speaks too much grammar to confused pple 😂😂😂😂. Oga speak the languages common men understand. Simple!
Naira∘Last activity one month ago
I see another end SARS coming up. With the level of poverty in the system, no availability of Cash and cost of food is high. Only God will save us
Naira∘Last activity one month ago
I’m cash stranded, no cash to pay worker at site... please spread out the new notes, things are hard business slow 😢
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5 Joseph Lajuwomi
naaaa you are missing the point!..this is institutionalized criminality and corruption to the highest level, he is passing a message without press statement or phone calls,..his message is to appease the gods of the political land that he gat them!..do not worry, bring it afterwards in whatever form, we strike a deal were percentages of forfeiture will b agreed!..fool everyone emefiele not me!..👏👏👏
1 Olurotimi Akingbade
see let me tell you , this is politics on us , they don’t want to take it to the bank because the bank will question them but taking it straight to the Central Bank will help them because na them them Dey that post , all these are all there plans , they know what they’re doing believe me or not Godwin is with them
5 Onyekachi Uzoma
yinmu don’t be deceived he will change it for them without asking any question…what about individuals like us…is just favouring those thieves