Governor of the Central Bank of Nigeria (CBN) Tuesday restarted that January 31, 2023, remains sacrosanct for the expiration on the use of old naira notes of 200, 500 and 1,000.
Emefiele who announced this after the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja on Tuesday said the CBN also raised the Monetary Policy Rate (MPR), which measures interest rate, to 17.5 percent.
The CBN boss disclosed that kidnapping and ransom-taking have reduced since the three banknotes were redesigned.
He also said the time given for the swap of the old naira notes with new ones was enough for Nigerians to go to commercial banks and get new notes.
