The Governor of the Central Bank of Nigeria (CBN), Godwin Emiefele, who appeared before the House of Representatives ad hoc Committee, said Nigerians won’t lose the old notes after the February 10 extended deadline.
He said while the old notes cease to be legal tenders after the expiration of the deadline, Nigerians can still take them to the bank for exchange of new notes or deposit the old notes in their accounts.
He said, Section 20(3) of the CBN Act, 2007 provides that the Apex Bank should continue to accept the old notes until they are phased out of circulation.
