President Muhammadu Buhari has approved the Central Bank of Nigeria’s request of ten-day extensionfor swapping of old Naira notes to the redesigned ones.

Consequently, the new deadline is now February 10th, 2023.

Indeed, seven-day grace period, beginning on February 10 to February 17, 2023, has also been approved to enable Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.

It was gathered that the President gave the approval during a meeting with the apex bank’s governor, Godwin Emefiele,  in Daura, Katsina State today (Sunday).

Similarly, Emefiele stated that 75 percent of the N2.7 trillion held outside the banking system has been recovered.