IMF calls for extension of old naira notes deadline

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The International Monetary Fund (IMF) has asked the Federal Government and Central Bank of Nigeria(CBN) to extend the February 10, 2023 deadline for cash swap.

The IMF disclosed this in a statement in Abuja on Wednesday by it’s representative Laraba Bonet.

It said: “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”.