According to the Central Bank of Nigeria (CBN), an extension of the deadline for the phase-out of the old Naira notes is not being considered.
Because of the shortage of the newly designed Naira notes, Nigerians—including governors elected on the APC platform—have petitioned the top bank for a delay.
Godwin Emefiele, the governor of the Central Bank of Nigeria, indicated that with the recent 10-day grace period that President Muhammadu Buhari allowed, the bank is not planning to extend the deadline.
Emefiele, who made this announcement during a conference in Lagos, urged Nigerians to be patient, stressing that the benefits of the programme exceed the early difficulties.
“I want to say unfortunately again, this time, we will not be looking at an extension of deadline because we are the central bank and the deposit money banks are doing everything to address the challenges,” he said.
President Muhammadu Buhari had asked Nigerians to give him seven days to take a major decision on the naira redesign policy.
He said this after APC governors met with him at Aso Rock earlier in the day.