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Old Naira: CBN insists on deadline despite court order

The Central Bank of Nigeria (CBN) has insisted that its February 10 deadline for the validity of old naira notes still stands.

The CBN governor, Godwin Emefiele made the disclosure on Tuesday during a briefing of the diplomatic community at the ministry of foreign affairs in Abuja.

The development comes despite the ex parte order of the supreme court which restrained the federal government from implementing the February 10 deadline, pending the hearing of the matter on February 15.

“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents,” Mr Emefiele said.

“There is, therefore, no need to consider any shift from the deadline of February 10,” he insisted.

Writing by Abdullahi Lamino; Editing by Tony Okerafor