NASS, CBN battle over old naira notes’ deadline


old naira notes
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…Extend the deadline to July 31, Senate tells CBN

…Reps angry, invite banks’ CEOs today, wants deadline extended to June

…Jan 31 deadline for old notes remains – Emefiele

By Henry Umoru &  Levinus Nwabughiogu, ABUJA

The two arms of the National Assembly, the Senate and the House of Representatives, yesterday asked the Central Bank of Nigeria, CBN, to extend the deadline for the usage of old naira notes beyond the January 31 target set by the apex bank.

While the Senate asked that the deadline be extended to July 31, the lower chamber said it should be extended to June.

But the governor of the CBN, Godwin Emefiele, said yesterday that the January 31 deadline remained sacrosanct.

The Senate at plenary yesterday also urged the CBN to open an exchange window where people without bank accounts could deposit their old notes.

The resolution of the Senate was a sequel to a motion by Senator Sadiq Umar, APC, Kwara North, who demanded the extension to July…

Source: Vanguard Newspaper