Breaking: IMF calls for naira swap deadline extension

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CBN governor Godwin Emefiele presents new naira notes to President Muhammadu Buhari

The International Monetary Fund (IMF) has called on the Central Bank of Nigeria (CBN) to to extend its February 10 Naira swap deadline.
The IMF, in a statement signed by Laraba Bonet in Abuja, Wednesday, urged CBN to consider the current hardship in the country.
“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 said.