The Governor of the Central Bank of Nigeria, Godwin Emefiele, says he stands by the February 10, 2023 deadline for collection of old notes.
Emefiele, in a visit to the Ministry Of Foreign Affairs, to discuss the monetary and currency redesign policy of the bank, said the shift in deadline was unecessary.
Emefiele also condemned the high-cost charge for cash swap by Point of Sales operators, saying operators who charge more that n2oo will be arrested and prosecuted.
The CBN governor further urged the pos operators to come to the CBN for compensation on any extra cost incurred in getting the new notes rather than charging a higher fee on customers.
The statement is in contradiction of a Supreme Court ruling restraining the bank and the Federal Government from enforcing the February 10 deadline for collection of old naira notes.
