New naira notes: Senate urges CBN to shift deadline to June 30

The Senate yesterday urged the Central Bank of Nigeria (CBN), to extend the deadline for withdrawal of old naira notes from circulation from January 31, 2023 to June 30.

The CBN had, last month, announced that the N1,000, N500 and N200 notes would be re- designed in new colours and its proposed withdrawal of the old notes from circulation from December 15, 2022 to January 31, 2023 when they would no longer be legal tender.

But the Senate sequel to a motion sponsored by Senator Ali Ndume (APC – Borno South), urged the apex bank to extend the deadline to June 30, next year.

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