The Central Bank of Nigeria governor, Godwin Emefiele has revealed that the old Naira notes can still be deposited at banks after Feb 10 deadline.
The Central Bank Governor made this statement while appearing before the House of Representatives ad hoc committee, which had accused him of violating section 20 of the CBN act.
Speaker of the House, Gbajabiamila, noted that the CBN act requires banks to accept old notes, even months after the expiration date.
Emefiele agreed with the parliament on section 20, saying that even if the old currency loses its legal tender status, the CBN is mandated to collect the money.
He assured Nigerians that they won’t lose their money and can redeem it by either depositing it in their bank account or exchanging it.