The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has assured that no Nigerian will lose money under the Naira redesign project, adding that the project is in the overall interest of Nigerians and the economy.
Mr. Emefiele gave the assurance during a meeting with the adhoc committee on the review of the Bank’s cashless policy and extension of the timeframe of the currency swap program of the Bank on Tuesday, 31st January, 2023.
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He further added that subject to the provision of section 20(3) of the CBN act, Nigerians would be given the opportunity to redeem the face value of the Naira in their possession after the currency would have lost its legal tender status on February 10, 2023, but only at the CBN.
In his statement, he declared, “Nigerians will not lose their money”.
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