The Central Bank of Nigeria (CBN) has said it is not considering deadline extension for the phasing out of the old Naira notes.

Nigerians, including governors elected on the platform of the All Progressives Congress (APC), have asked the apex bank for an extension owing to the scarcity of the redesigned Naira notes.

However, the governor of CBN, Godwin Emefiele, said the bank is not considering an extension of the deadline after the 10-day grace recently approved by President Muhammadu Buhari.

Emefiele, who disclosed this at a briefing in Lagos, appealed to Nigerians to exercise patience noting that the gains of the policy outweigh the initial challenges.

“I want to say unfortunately again, this time, we will not be looking at extension of deadline because we are the central bank and the deposit money banks are doing everything to address the challenges,” he said.

He also said the redesigned naira policy was not targeted at anyone, reemphasising that the policy is aimed at economic benefits.

He also appealed to Nigerians not to allow themselves to be used to truncate the policy.

“We are doing our work. We are bankers. Those holding protest should not allow themselves to be used,” he said.

He begged Nigerians to show understanding and accept to join queue at the banks

President Muhammadu Buhari had asked Nigerians to give him seven days to take a major decision on the naira redesign policy.

He said this after APC governors met with him at Aso Rock earlier in the day.