Central bank of Nigeria (CBN) via the CBN governor Godwin Emefiele has urged Nigerians to deposit told naira notes in exchange for new notes in the bank as old notes will cease to be legal at the end of January 2023. In an announcement he made on the 25 th of January 2023, he said… "I must say here that unfortunately, I don’t have good news for those who feel that we should shift the deadline. My apologies. The reason is because we feel 100 days should be enough for those who have the old currency to deposit the money in the banks…100 days, we believe is more than adequate". Recall that the new naira notes started circulating on December 15 2022 after its announcement by the CBN governor Godwin Emefiele. although, there has been reports about the new naira notes fading due to contact with water.
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