{"id":102808,"date":"2023-01-29T17:37:26","date_gmt":"2023-01-29T16:37:26","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=102808"},"modified":"2023-01-29T17:37:26","modified_gmt":"2023-01-29T16:37:26","slug":"buhari-approves-10-day-extension-of-old-naira-swap","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/buhari-approves-10-day-extension-of-old-naira-swap\/","title":{"rendered":"Buhari approves 10-day extension of old naira swap"},"content":{"rendered":"<div id=\"m#msg-f:1756373757276909569\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\"><\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\n<div dir=\"auto\">\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">President Muhammadu Buhari has approved the Central Bank of Nigeria&#8217;s (CBN) request for the extension of the deadline for swapping of old Naira notes to the redesigned ones.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The new deadline is January 31, 2023, to February 10, 2023.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">A seven-day grace period, beginning on February 10 to February 17, 2023, has also been approved to enable Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This followed the President&#8217;s meeting with the apex bank&#8217;s governor, Godwin Emefiele, in his country home in Daura, Katsina State on Sunday.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Emefiele briefed correspondents after the meeting, revealing that 75 percent of the N2.7 trillion held outside the banking system has been recovered.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">He said: &#8220;We are happy that so far, the exercise has achieved a success rate of over 75 percent of the N2.7 trillion held outside the banking system. Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Aside from those holding illicit\/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit<\/div>\n<div dir=\"auto\">their legitimately trapped monies at the CBN for exchange.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Based on the foregoing, we have sought and obtained Mr President&#8217;s approval for the following:<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;10-day extension of the deadline from<\/div>\n<div dir=\"auto\">January 31, 2023, to February 10, 2023; to legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;A 7-day grace period, beginning on February 10 to February 17,2023, in<\/div>\n<div dir=\"auto\">compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old<\/div>\n<div dir=\"auto\">currency would have lost its Legal Tender status.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">&#8220;We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free the implementation of this very important process for program.&#8221;<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>President Muhammadu Buhari has approved the Central Bank of Nigeria&#8217;s (CBN) request for the extension of the deadline for swapping of old Naira notes to the redesigned ones. The new&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":100220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-102808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buhari approves 10-day extension of old naira swap - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/buhari-approves-10-day-extension-of-old-naira-swap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buhari approves 10-day extension of old naira swap - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"President Muhammadu Buhari has approved the Central Bank of Nigeria&#8217;s (CBN) request for the extension of the deadline for swapping of old Naira notes to the redesigned ones. 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