Simply In: New naira: CBN Says February 10 Deadline Stands

The Governor of the Central Financial institution of Nigeria, Godwin Emefiele, has reaffirmed his stance saying the February 10, 2023 deadline wont be postponed.

He disclosed this throughout a go to on Tuesday to the Ministry of Overseas Affairs, to debate the financial and foreign money redesign coverage of the financial institution.

Emefiele insisted that there was no have to shift the deadline.

He stated, “The state of affairs is considerably calming down for the reason that graduation of over-the-counter funds to enhance ATM disbursements and the usage of super-agents.

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“There’s, due to this fact, no want to think about any shift from the deadline of February 12.”

This comes because the Supreme Courtroom earlier restrained the Federal Authorities from implementing the February 12 deadline for the foreign money swap.

A seven-man panel of the apex court docket led by Justice John Okoro, in a unanimous ruling, granted an interim injunction restraining the Federal Authorities, the Central Financial institution of Nigeria and industrial banks from implementing the Friday terminal date for the previous naira notes.

He additionally stated that Level of Sale brokers who cost above N200 for money swap will probably be arrested and jailed when caught.

The CBN governor additional added that the PoS operators can come to the CBN to be compensated for any additional value incurred in getting the brand new notes slightly than charging a better payment on clients.