On Wednesday, President Buhari will introduce new Naira notes, according to Emefiele

On November 23, 2022, President Muhammadu Buhari will present the freshly redesigned naira notes, according to Central Bank of Nigeria (CBN) Governor Godwin Emefiele. This information was provided by Emefiele on November 22 while he was answering questions from reporters at the monetary policy committee (MPC) meeting in Abuja. He spoke Is the deadline going to be changed that has been brought up The response is still a resounding no. No deadline will be shifted by us. It is not illegal for us to have done what we have. It works together with the legislation. We made this program public on October 26, 2022. And we noted that the legal tender status of the old money will continue to exist until January 31 after the issue of the new currency.2023. That is almost 100 days. 100 days is enough for any person in any part of Nigeria to deposit his money in the bank and get ready to withdraw cash when the new notes are released, he said. For information, indeed, we are no longer waiting till December 15 to begin to unveil and begin to release the new notes. By the special grace of God tomorrow, which is the 23rd of November 2022, the President has graciously accepted to unveil the new currencies and the new currencies will be unveiled tomorrow at the federal executive chambers by 10 am. So, when you talk about whether we have made adequate provisions to make sure that those who have cash are able to deposit their cash with the bank, my answer is yes. Because on the 26th of October I made it very clear. I said all banks will keep their currency processing centers open from Mondays to Saturdays. We went further [to] release the press release and said that the Central Bank of Nigeria’s 36 currency processing centers all over the country will also be left open from Mondays to Saturdays to receive cash. Three, we have deployed our agency banking network to receive, and in fact, pay cash when the new notes are released to those in our rural areas. When people say there are people in rural areas who cannot pay cash, they just are begging the question, they don’t know what they are saying. They have other motives, [and] it is not because they are sympathetic to the cause of the ordinary weak people in our rural area. In 2020, the Central Bank of Nigeria or banking industries agency license network was only at 86,000. As of October 2022, our agency banking network has increased to 1.4 million all over Nigeria in almost all the local governments in Nigeria, I, therefore, cannot see any reason why anybody would say that he needs an extension because he cannot deposit his money in the bank, even if you are in a rural area. And the agency networks are like saying that we have 1.4 currency points all over the country, then how can anybody come and say that he wants to shift the deadline because there are people in the rural areas that cannot deposit cash That is a lie. They know what they have in mind and we will not go with them on that journey. Our journey is that on January 31, 2023, all the old currencies will lose their legal tender status and we will begin to use the new currencies. We are doing our work in line with the law that establishes us and we will continue to do so.