“We believe 100 days are adequate for people to turn in their old naira notes. This time, the Senate specifically asked the CBN to extend the deadline for withdrawal of old naira notes from circulation to July 31, 2023. It said the six months ex- tension would especially allow those in rural areas more time to change their old notes. The Senate also urged the CBN to compel commercial banks to open naira exchange windows for those without bank accounts to exchange their old naira notes. In fact, we will penalise you if you give out old notes.

Source: Nigerian Tribune January 25, 2023 17:38 UTC