Nigeria extends the deadline for the return of Naira banknotes that will soon be demonstrated-Africa

Nigeria extends the deadline for the return of Naira banknotes that will soon be demonstrated-Africa

After the Nigerian Central Bank initially ignored an extension of the deadline for the return of old Naira banknotes, she recently said that she had postponed the deadline for the return of old banknotes to February 10. The governor of the bank, Godwin Emefiele, said that around 30,000 so -called superagents had done this nationwide to help with the money change process.
The CBN-GouVerneur says that the currency exchange exercise was a success
The central bank of Nigeria (CBN) recently said that she had extended the deadline for the return of the old Naira banknotes by another ten days. In his 29 January Press release said CBN-Gouventur Godwin Emanfiele, although the exercise was a success, the shift of the key date from January 31 to February 10th helps the bank to be successful in rural communities.
The announcement follows at weeks of request from residents who wanted to receive more time to return the Naira banknotes that were soon devalued. The extension was also announced a few days after a Bitcoin.com News test report that some Nigerian banks still distributed the old banknotes.
To ensure that the goals of the CBN are achieved before the old banknotes are pulled out of circulation, EMEFLESE said that the Central Bank employees together with their colleagues from the Commission for Economic and Financial Crime (EFCC) mobilize and monitor the process. In addition, the governor said that around 30,000 so-called super agents were used nationwide to help with the money change process in regions that are under-supplied by banks.
CBN aims at rural communities
On the previous success of the central bank, EMEFIES said:
We are pleased that the exercise has so far been held a success rate of over 75 % of N2.7 trillion [$ 5,86 trillion] outside the banking system.
The governor also said that it is aimed at giving residents with really earned money to pay their legally caught funds during the CBN for exchange.
In the meantime, in his statement, EMEFiele, which was accused Financing of terrorists insisted that the central bank's goal is not only to improve the effectiveness of their monetary policy, but also to help the Nigerian security authorities in their fight against bandits and kidnappers. By devaluating the old banknotes, the CBN will stick to its mandate to redesign its currency every five to eight years, added.
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