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Home Breaking News

Emefiele insists the CBN is not considering extending deadline for swapping naira notes

apex bank extends cash swap to microfinance banks, engages 30,000 super agents

Chike Olisah by Chike Olisah
February 3, 2023
in Breaking News, Business News
Inflation would have hit 30.43% in April except for 18% rate —Emefiele
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The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has restated that the apex bank is not considering extending the deadline for the swapping of the old naira notes with the newly redesigned naira notes.

This was made known by Emefiele during an ongoing special briefing of journalists at the CBN office in Lagos on Friday, February 3, 2023.

Emefiele said that the CBN acknowledges the pains Nigerians are facing in accessing the new naira notes and are working on closing the gaps observed in the circulation process.

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According to the CBN governor, the apex bank will extend cash swap to microfinance banks and engage 30,000 super agents in the hinterlands as part of new measures to accelerate the circulation of new naira notes.

He stated that the CBN is discussing with banks to make alternative Channels easily accessible.

Emefiele also said that the CBN is not considering extending the deadline for swapping the old naira notes with the newly redesigned ones.

This is a developing story…


Follow us for Breaking News and Market Intelligence.
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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Comments 1

  1. Umar says:
    February 3, 2023 at 11:40 pm

    And so what?
    Just do your worst.

    Reply

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