The deadline of February 10, 2023, wasn’t necessary, according to Godwin Emefiele, Governor of the Central Bank of Nigeria.
He claimed that since the introduction of over-the-counter payments to supplement ATM withdrawals and the usage of super-agents, things had significantly improved. Therefore, there is no need to think about changing the February 10 deadline.
This occurs at the same time as the Supreme Court previously prohibited the Federal Government from carrying out the currency swap deadline of February 10.
The CBN governor emphasized that the deadline didn’t need to be pushed back, though. Additionally, he stated that Point of Sale representatives who charge more than N200 for the CBN cash swap program will be detained and imprisoned when discovered.