The CBN governor, Godwin Emefiele after appearing before the House of Representatives ad hoc committee on Tuesday has stated that, Nigerians with old notes can still deposit them at commercial banks even after the February 10 deadline.
This is coming after the lawmakers had accused Emefiele of breaching section 20 of the CBN act. And the Speaker of the House, Femi Gbajabiamila, reminded that the CBN Act mandates commercial banks to accept old notes.
According to the speaker, “After the expiration date, such naira notes changed will no longer be legal tender but it also says that even five months, three months, or two months after, even in June, all the old notes presented to the bank shall be redeemed by the bank.”
Reacting to this, Emefiele while speaking agreed with the parliament on section 20.
“Section 20 says even after the old currency has lost its legal tender status that we are mandated to collect that money. And I stand with the House of Reps on this,” he said.
He went ahead to add that; “if you have your money that you have not been able to send to the bank. We will certainly give you the opportunity to bring them back into the CBN to redeem it.
“Either you pay it to your bank account or you want to do an exchange — we give you.
“You will not lose your money. This is the assurance I give to NNigerians.”
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