The National Assembly has ordered the Central Bank of Nigeria(CBN) to extend the Jan 31st deadline for the withdrawal of old naira notes from circulation in the country.
Recall that the new naira notes were introduced into circulation Dec 15th 2022 and the CBN disclosed that the old notes would become irrelevant and cease to be a legal tender by January 31st 2023.
In a recent development, the CBN made it known that there is no going back on its deadline , however the National Assembly has ordered the Apex bank to extend the deadline for withdrawal of the old notes in circulation.
