The Governor of the Central Bank, Godwin Emefiele, of the Central Bank of Nigeria (CBN), says Banks will continue to accept the old naira notes even after the deadline for swapping with the newly-designed currency notes, the Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said.
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.
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