Parachoko:


Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp


If toh say you carefully read the article the OP posted and understand, you wont be disgracing yourself right now.

baralatie:
Meanwhile presidential election is 25th of February 2023

kaeycea:

Stop foaming in your mouth Dimwit..
Emefiele has dealt with that issue after meeting with Buhari in Aso villa after which he made press conference..
There's no indefinite time-line for the return of the old note.
I know that's what urchins like you are craving for.
He had already stated 17th Feb as the deadline.
Go and watch the video of the press conference and cure yourself this sickening ignorance

Parachoko:
You're the dumbest slowpoke on Nairaland

Sheyhunn:
Emefiele don bow to political pressure...

kaeycea:

Urchin will ever remain an urchin..mumu

Parachoko:
Yes!

The old notes can still be deposited at the banks after February 25 2023.

Omoapena:



Where are you people getting this info from,

Governor of CBN said 17th is the deadline for commercial banks to accept it, so why will the commercial banks accept it after 17th of February...

Parachoko:
I know you're an Obi supporter

Nah una dey dull like this

kaeycea:

I know you're Tilumbu supporter.. Tilumbu is probably somewhere sleeping or making another gaffe while you're on nairaland embarrassing your village people.
Brainless Nematode

Parachoko:




Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp


Make sure you read and understand before you think of quoting me please.

Everything dey bold and clear

Parachoko:
Obi won't even have up to 500k voted

UnfairLife7:
the purpose has been defeated

Politicians will buy votes like water 😀

Omoapena:


Layman explanation:

It's said general public are advisable to take their old notes to the bank after 10th of February of which commercial banks are allowed to accept the old notes till 17th of February then the commercial banks should stop accepting after 17th, but the commercial banks are given access to bring all the old notes they collected before the 17th of February to the Apex (CBN) bank after the 17th of February...

So basically, commercial banks will receive money from public till that 17th and any individual that have old notes and want to exchange it can go directly to the apex bank to do so...

Parachoko:
Can you paste where you got this your own statement from?

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says banks will continue to accept old naira notes after the stipulated deadline.

Emefiele spoke on Tuesday when he appeared at an interactive session with the house of representatives ad hoc committee on the currency redesign and naira swap policy.

He said the CBN will also accept the old naira from banks after the February 10 deadline.

Emefiele made reference to the CBN act mandates the apex bank to continue to accept old notes after it’s expiration.

Section 20 (3) of the CBN act states: “Notwithstanding sub-sections (1) and (2) of this section, the bank shall have power, if directed to do so by the president and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of the notice, cease to be legal tender, but, subject to section 22 of this act, shall be redeemed by the bank upon demand”.

https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp

I back my own evidence up with my source

I wan know where you dey get your own from

Omoapena:



This is now getting more confusing,

Is it that commercial banks will start rejecting after 10th of February or they are given till 17th of February to collect it.

Parachoko:


We dey talk of wetin the CBN Gov talk this morning, you dey show me something wey happen 2 days ago

Look the screenshot wey you screenshot and tell me if nah today news you dey share with me

Some of una eh

Nah today news I dey share with you not news of 2 days ago



Banks will continue to accept old naira notes after the deadline has passed, according to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).

Emefiele stated on Tuesday when he appeared before the house of representatives’ special committee on the redesign of the currency and the naira swap policy.

After the deadline of February 10th, he claimed, the CBN will also accept old naira from banks.

Emefiele referred to the CBN legislation, which requires the top bank to keep taking old notes after they expire.

The CBN governor did not provide a time frame for when banks will stop accepting old notes, though.

Despite subsections (1) and (2) of this section, the CBN act’s section 20 (3) states that the bank has the authority to call in any of its notes or coins upon the president’s direction and after giving reasonable notice in that regard. However, subject to section 22 of the act, any note or coin with respect to which a notice has been given under this subsection ceases to be legal tender upon the expiration of the notice.

Read More>>>>>>>>

https://gistreportar.com/banks-will-accept-old-naira-notes-after-deadline-says-emefiele/

politicoNG:


https://www.thecable.ng/just-in-banks-will-accept-old-naira-notes-after-deadline-says-emefiele/amp

Parachoko:


We dey talk of wetin the CBN Gov talk this morning, you dey show me something wey happen 2 days ago

Look the screenshot wey you screenshot and tell me if nah today news you dey share with me

Some of una eh

Nah today news I dey share with you not news of 2 days ago



Banks will continue to accept old naira notes after the deadline has passed, according to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN).

Emefiele stated on Tuesday when he appeared before the house of representatives’ special committee on the redesign of the currency and the naira swap policy.

After the deadline of February 10th, he claimed, the CBN will also accept old naira from banks.

Emefiele referred to the CBN legislation, which requires the top bank to keep taking old notes after they expire.

The CBN governor did not provide a time frame for when banks will stop accepting old notes, though.

Despite subsections (1) and (2) of this section, the CBN act’s section 20 (3) states that the bank has the authority to call in any of its notes or coins upon the president’s direction and after giving reasonable notice in that regard. However, subject to section 22 of the act, any note or coin with respect to which a notice has been given under this subsection ceases to be legal tender upon the expiration of the notice.

Read More>>>>>>>>

https://gistreportar.com/banks-will-accept-old-naira-notes-after-deadline-says-emefiele/

Omoapena:


Goto instablog and see if its today and 2dayz ago news

ViktorCash:
Smart move. It wil now be easy to track cash of higher denomination. Any customer who comes to deposit cash of 1000,500 or 200 naira denomination will be subject to serious security checks by the EFCC. Smart one💪

tabaralph:

The main reasons why the naira is being changed has now been defeated, the politicians will still buy the votes with the old currency and the voters will take the money to the bank for exchange, my permutations might be wrong though but that’s what will likely happen.

tamdun:

Why won't I accept it if I can just enter any bank and credit my account with it?
It is legal tender until the bank stop accepting it

ViktorCash:
I think security checks by the EFCC will be involved now. They have already told banks to start paying cash in 100,50,20,10 and 5 naira denomination. Anybody who comes to deposit with higher denomination will be questioned.

kaeycea:

Stop foaming in your mouth Dimwit..
Emefiele has dealt with that issue after meeting with Buhari in Aso villa after which he made press conference..
There's no indefinite time-line for the return of the old note.
I know that's what urchins like you are craving for.
He had already stated 17th Feb as the deadline.
Go and watch the video of the press conference and cure yourself this sickening ignorance

Parachoko:
Good

This your screenshot don even show I am right and you are wrong

The banks will keep on accepting the old notes after February 10.