January 31st Remains The Deadline Date For Naira Change, CBN Declares

The Central Bank of Nigeria has affirmed that the deadline date for changing old naira notes to newly designed naira notes remains January 31st, 2023.

The CBN Lagos Branch Controller, Godfrey Koyor, made the affirmation during a stakeholder sensitisation event on the currency redesign at the Balogun market in Lagos.

“The deadline is 31st of January and it is not changing. We haven’t changed the deadline. As I speak with you, the deadline remains sacrosanct and what we are asking the public and the banks to do to surrender the old notes and take new ones.”

Investors King had earlier reported that the CBN Governor, Godwin Emefiele had reiterated that the Central Bank was not going to bend its decision on the deadline date.

The CBN director assured Nigerians that enough new naira notes have been disbursed to banks to ensure smooth exchange for the public.

“We are giving everyone the assurance that the new naira notes are available and available to everyone. We are distributing through the banking system. And as the transaction takes place, you are going to be having the new ones.

“So as people are giving out the old notes, they will be receiving the new notes. We have pushed a lot of the new redesigned currency notes into circulation and it is going round.”

Koyor further added that the CBN has directed every bank in the country to ensure their ATM machines dispense only the new naira notes.

“We have given them a directive to make the notes available to the customer through the payment channels, which is the ATM. I am assuring you that if you go to the ATM, you will get the new notes. The essence of giving the directive that the new naira notes should be dispensed through the ATM is so that they will be available to people during working hours and off working hours.