The Governor of Central Bank of Nigeria (CBN), Godwin Emefiele has said that there is no going back on the February 10, 2023 deadline for the swapping of the old N1,000, N500, and N200 notes.
Despite the Supreme Court’s order restraining the bank from implementing the deadline, the CBN maintained that the date remains sacrosanct.
He acknowledged the inconveniences caused by the naira redesign policy including hoarding and an elevated agitation but called on Nigerians, especially those in authority, not to exaggerate it so as not to create panic.
Acknowledging that the transition to embracing the new naira notes may be challenging, the CBN boss reiterated that the benefits are enormous and will lead to a cashless policy.