The Central Bank of Nigeria (CBN) has extended the ban on the usage of obsolete naira notes throughout Nigeria by 10 days.

The CBN governor told reporters Sunday morning that he had received President Muhammadu Buhari’s consent for the extension.

He said the previous deadline of January 31 has been changed to February 10.

Following a meeting with the president, who was in his home state on official business, Mr. Emefiele gave a speech in Daura, Katsina State.

Nigerians, according to Mr. Emefiele, now have the chance to exchange their old naira notes for new ones.

He stated that since the deadline won’t be extended once more, individuals must take advantage of the chance.

According to sources, the CBN introduced new 200, 500, and 1000 naira notes in October and set a deadline for using the previous notes of January 31st.

However, the new notes have been hard to come by, prompting requests for a delay.