Central Bank Governor, Godwin Emefiele insists that the January 31st deadline for the usage of old currency notes remains sacrosanct.
The two chambers of the National Assembly also asked the CBN to as a matter of urgency extend the period by 6 months; however, the CBN boss insisted that there shall be no extension. However, banks have insisted that they will comply with the directive of the CBN on the subject matter. On Thursday, during a meeting between the banks and the committee of the House, bankers acknowledged that the new notes are not sufficient to meet the demand of Nigerians.
“We are paying as much as we get. We are collecting the money and loading it at the ATM as quickly as we get it. Unfortunately, we are not getting them quickly. We have gotten about 10 percent of the total money. That is a challenge that we have. We are doing the best we can up until the deadline,” she said.
No going back on naira redesign
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