Godwin Emefiele, the Governor of the Central Bank of Nigeria, stated on Tuesday during a meeting at the Ministry of Foreign Affairs, that there is no requirement to change the deadline of February 10, 2023. The discussion revolved around the bank’s monetary and currency redesign policy. The Governor clarified that the over-the-counter payment system has helped alleviate the problem, reducing the need to change the deadline.
The apex court’s seven-man panel, led by Justice John Okoro, issued an interim injunction to prevent the Federal Government, the Central Bank of Nigeria, and commercial banks from implementing the Friday deadline for the old naira notes. Despite this, the CBN Governor emphasized that the deadline need not be changed.
Furthermore, he declared that any Point of Sale (PoS) agents who charge over N200 for the CBN cash swap programme will face legal consequences. The CBN Governor urged PoS operators to seek compensation for any additional costs incurred in obtaining new notes from the CBN, instead of imposing a higher fee on customers.
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