The International Monetary Fund has advised the Central Bank of Nigeria to extend the February 10 deadline for swapping old naira notes with the redesigned ones.
The IMF said it was necessary for the CBN to reconsider its stance given the hardship being suffered by Nigerians. process.
The body said in a statement, “In light of hardships caused by disruptions to trade and payments due to the shortage of new bank notes available to the public, in spite of measures introduced by the CBN to mitigate the challenges in the banknote swap process, the IMF encourages the CBN to consider extending the deadline, should problems persist in the next few days leading up to the February 10, 2023 deadline.”
