IMF urges CBN to extend deadline

Story by Olaleye Aanuoluwapo

The IMF has urged the Central Bank of Nigeria to extend the deadline of February 10,2023 for withdrawal of old Naira notes.

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.