Naira redesign: CBN pleads with Nigerians to be calm

...may increase cash limit ... urges PoS operators to stop premium charges

The Central Bank of Nigeria (CBN) on Friday called all Nigerians and the banking public to be calm and show more understanding as the country transits from old to new naira.

Godwin Emefiele, governor of the CBN said this during a press briefing in Lagos.

He said the cash limit of N20,000 may be increased and that the ongoing premium charges by PoS operators should stop.

Read also: Cashless economy: CBN to boost SMEs with saved funds from naira redesign project

Emefiele said later today he will convene a meeting with bank CEOs, mobile money operators, telcos on how to address the PoS charges, while promising to find a way to refund the charges.

The Central Bank of Nigeria (CBN) on Sunday extended the deadline by 10 days from January 31, 2023, to February 10, 2023, to allow the collection of the old 1000, 500 and 200 naira notes.