Di Central Bank of Nigeria (CBN) govnor, Godwin Emefiele, say banks dey hoard di new notes.

Di CBN govnor tok dis one as e appear before di ad-hoc committee of di House of Representatives wey dey torchlight di scarcity of di new naira notes.

Di govnor finally show afta several order from members of di House of Representative to come explain di different recent policies wey di top Nigeria bank dey execute.

CBN bin fix 31 January as deadline for di use of old notes- but later extend am to 10 February.

However, di scarcity of di new notes force di House to set up ad hoc committee wey go resolve di difficulties between CBN and commercial banks.

But Oga Emefiele dey insist say many of di banks dey hoard di new notes.

Emefiele explain why im no show

As Emefiele dey address di committee, im explain say di reason why im no show all di while na becos im bin dey out of di kontri, dat na why im fail to honour previous invitations.

Toking about di redesign of di naira notes, e say CBN action dey in line wit international best practices and di top bank gatz dey in control of di currency wey dey in circulation.

Briefing dem further, Emefiele said for 2015, 1.4 trillion naira bin dey circulate, but by last year e rise to 3.33 trillion naira.

E say di reason why CBN direct banks to make sure say na only through ATM pipo dey do withdrawal na to limit di daily withdrawal of individuals.

Oga Emefiele condemn how na for parties di new notes dey show and say im don do meeting wit commercial banks to stop am.

E also agree say di policies dey wunjure some pipo, but add say na in di interest of di kontri especially to fight insecurity.

Emefiele bin fail to appear before di lawmakers even though dem bin invite am many times.

For di several letters wey im send to give reason why im no fit appear, e say im bin dey United States dey do important assignment.

Im no-show on many different occasions bin make Speaker of di House of Representatives, Femi Gbajabiamila, to threaten say im no go mind to ask di Inspector General of Police, Usman Baba, to sama am arrest warrant on  Emiefele to compel him to appear before di House.

Wen be di deadline for old naira notes?

Central Bank of Nigeria tok for statement say dem go stop to dey use di old naira notes on 10 February 2023.

Afta on di 10 February 2023, all di old notes wey dey outside go loss dia legal tender status.

Dat one mean say pesin no go fit use di old N200, N500 and N1,000 naira notes buy or pay for something afta 10 February 2023.

Di apex bank say afta di 10 February 2023 deadline, dem go give 7-days grace period.

Dis grace period go begin on 10 February to 17 February 2023 in compliance with section 20(3) of di CBN Act.

Dis na to allow Nigerians deposit dia old notes for CBN afta di February deadline wen di old currency don lost im legal tender status- dis mean say you no go fit use di money buy or do anything.

CBN tok-tok pesin wey be Head of Corporate Communications, Osita Nwanisiobi explain more about di deadline and di 7-day grace period;