The upper and lower chambers of the National Assembly have passed a resolution asking the Central Bank of Nigeria (CBN) to extend the deadline for the withdrawal of old naira notes from circulation.
The resolution was passed during the plenary of the senate and house of representatives on Tuesday in Abuja.
Last year, the governor of the CBN, Godwin Emefiele announced the redesign of the N200, N500 and N1000, adding that the old notes are expected to be out of circulation by January 31, 2023.
According to him, the naira redesign policy entails the issuance of new naira notes to replace the existing N200, N500 and N1,000 series.
After the announcement of the plan which was backed by the president, the National Assembly summoned the officials of the CBN to explain the rationale behind the naira redesign policy.
After the summons, the legislatures have been mounting pressure on the CBN governor to extend the deadline for the withdrawal of the old notes from circulation.
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