The International Monetary Fund (IMF), on Wednesday, advised the Central Bank of Nigeria (CBN) to extend the February 10 deadline for the use of old naira notes if the difficulties in getting new notes persist.
“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,” the statement reads.
More to follow…
