The Central Bank of Nigeria's Governor, Godwin Emefiele, declared that the February 10, 2023 deadline did not need to be changed.
When he visited the Ministry of Foreign Affairs on Tuesday to talk about the bank's monetary and foreign exchange policies, he made this statement.
He said, “The situation is substantially calming since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.
“There is, therefore, no need to consider any shift from the deadline of February 12.”
This is because the Supreme Court had already stopped the Federal Government from making the deadline for the currency swap on February 12.
In a unanimous decision, a seven-person panel of the apex court led by Justice John Okoro gave an interim injunction that stops the Federal Government, the Central Bank of Nigeria, and commercial banks from enforcing the Friday date for the end of the old naira notes.
But the head of the CBN said there was no need to change the deadline.
He also said that POS workers who charge more than N200 to exchange cash will be arrested and jailed.
The governor of the CBN also said that point-of-sale (PoS) operators could come to the CBN to get paid for any extra costs they had to pay to get the new notes instead of raising fees for customers.