The Central Bank of Nigeria CBN says there is no going back on the February 10 deadline for the old notes as legal tender.
The CBN Governor, Mr. Godwin Emefiele who stated this during a visit yesterday to the Ministry of Foreign Affairs, to discuss the monetary and currency redesign policy of the bank, assured members of the diplomatic community that it was on top of the policy and cash withdrawal limit policies.
The CBN Governor also warned that Point of Sale agents who charge above N200 for the CBN cash swap programme will be arrested and jailed when caught.
According to Mr Emefiele, the situation of long queues was gradually reducing since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.
This comes as the Supreme Court earlier restrained the Federal Government from implementing the February 10 deadline for the currency swap.