The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday 14 February 2023 said that there was no need to extend the February 10, 2023 deadline for the usage of the old N200, N500 and N1,000 notes.
Emefiele made this known said this during a visit to the Ministry of Foreign Affairs, to discuss the monetary and Naira redesign policy of the apex bank.
The CBN governor stated that Point of Sale (PoS) agents who charge above N200 for cash withdrawal transactions would be arrested and jailed when caught.
According to him, PoS operators could approach the CBN to be compensated for any extra cost incurred in getting the new notes rather than charging a higher fee on customers.
“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.
“There is, therefore, no need to consider any shift from the deadline of February 12,” Emefiele said.
The CBN boss’ insistence comes as the Supreme Court earlier restrained the Federal Government from implementing the February 12 deadline for the currency swap.
