The Central Bank of Nigeria(CBN) Governor Godwin Emefiele says Nigerians wont lose the old naira notes after the February 10 deadline.
Emefiele said this after meeting with the House of Representatives ad hoc Committee on Tuesday
He said while the old notes cease to be legal tenders after the expiration of the deadline, Nigerians can still take them to the bank for exchange of new notes or deposit the old notes in their accounts.
Section 20(3) of the CBN Act, 2007 provides that the Apex Bank should continue to accept the old notes until they are phased out of circulation.
He said the bank would stand with the provision of the section 20(3) of the CBN Act
