-
Emefiele has assured the House of Representatives that old Naira notes will still be accepted beyond the February 10 deadline.
-
Emefiele stated this on Tuesday while appearing before the House of Representatives ad hoc committee.
-
The Speaker of the House, Femi Gbajabiamila said the CBN Act mandates commercial banks to accept old notes.
EKO HOT BLOG reports that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says banks will continue to accept old naira notes after the February 10 deadline.
Emefiele stated this on Tuesday while appearing before the House of Representatives ad hoc committee.
EDITOR’S PICKS
-
BREAKING: Adeleke Rejects Tribunal Judgement, Vows To Appeal Sack
-
Many Feared Dead As Multiple Explosions Rock Niger Community
-
2023: Wike Drops Fresh Hint On Preferred Presidential Candidate
Recall that the lawmakers had accused Emefiele of breaching section 20 of the CBN act.
According to the Speaker of the House, Femi Gbajabiamila, the CBN Act mandates commercial banks to accept old notes.
“After the expiration date, such naira notes changed will no longer be legal tender but it also says that even five months, three months, or two months after, even in June, all the old notes presented to the bank shall be redeemed by the bank,” Mr Gbajabiamila had said in a speech on Thursday.
While speaking at the hearing, Emefiele said he is in agreement with the parliament on section 20.
“Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this,” he said.
FURTHER READING
-
JUST IN: ‘Probe Osun Tribunal Judges’ — Timi Frank Urges NJC, EFCC
-
BREAKING: S’Court Declares Akpabio Authentic APC Senatorial Candidate In A’Ibom
-
JUST IN: ‘Reverse Unlawful Electricity Tariff Hike Now’ — SERAP Tells Buhari
He explained further that “if you have your money that you have not been able to send to the bank. We will certainly give you the opportunity to bring them back into the CBN to redeem it. Either you pay it to your bank account or you want to do an exchange — we give you. You will not lose your money. This is the assurance I give to Nigerians.”
Click here to watch our video of the week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected] Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
