The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has insisted there is no going back on the deadline earlier given for the old naira notes to be withdrawn from circulation.
Speaking on Tuesday at the Ministry of Foreign Affairs in Abuja, the CBN Governor said the naira scarcity situation is already calming down hence no need to shift the February 10 deadline as earlier announced.
Raye24reporters understands Emefiele was at the Ministry to discuss the monetary and currency redesign policy of the apex bank.
According to him, there is no need to consider any shift in the deadline.
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 10,” Emefiele was quoted to have said.
He also threatened that Point-of-Sale agents, who charge above N200 for cash swaps will be arrested and jailed if caught in such practices.
The declaration by the CBN Governor is however contrary to the ruling of the Supreme Court on the matter.
It would be recalled that a seven-man panel of the apex court led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal Government, the Central Bank of Nigeria, and commercial banks from going ahead with the Friday, February 10 deadline to phase out the use of the old naira notes.
The apex court stopped the Federal Government, CBN and commercial banks from continuing with the deadline pending the determination of a notice in respect of the issue on the old 200, 500 and 1000 naira notes.
, Godwin Emefiele has insisted there is no going back on the deadline earlier given for the old naira notes to be withdrawn from circulation.){kind=link}