The International Monetary Fund(IMF), has urged the Central Bank of Nigeria (CBN) to consider extending the February 10 deadline for swapping old naira notes with the redesigned ones.
The IMF gave the advice in a statement on Wednesday.
The statement reads in part, “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.”
