On Friday at the apex bank’s Lagos office, CBN governor Godwin Emefiele said the CBN and deposit money banks (DMBs) were addressing the new currency note circulation issues.
The CBN extended the old naira currency deadline to February 10 from January 31.
In hopes of another extension, various stakeholders have continued to criticize the currency redesign program, arguing that the severe scarcity of the new notes is causing Nigerians suffering.
Emefiele said the bank will not extend the deadline after the 10-day grace period.
“Unfortunately again, we will not be looking at deadline extension since we are the central bank and the deposit money banks are doing everything to address the challenges,” he said.
He advised Nigerians to wait because the policy’s benefits exceed its drawbacks.
The CBN governor stressed that the naira redesign policy is for economic growth, not targeting anyone.
“We work. Bankers. “Protesters should not be deployed,” he stressed.
Emefiele said the apex bank will offer cash swaps to microfinance institutions and hire 30,000 super agents in the hinterlands to speed up the distribution of new naira notes.
In a meeting with President Muhammadu Buhari today, All Progressives Congress (APC) governors requested that the old and new naira notes coexist to ease Nigerians’ suffering.
After the meeting, Buhari requested Nigerians to give him seven days to fix the revised currency note shortage.