Finance

New naira: IMF advises CBN to extend February 10 deadline

New naira: IMF advises CBN to extend February 10 deadline

The International Monetary Fund, on Wednesday, counselled the Central Bank of Nigeria to extend the February 10 deadline for swapping old naira notes with the redesigned ones.

The IMF gave the counsel in the wake of the challenges faced by Nigerians across the country over the banknote swap process.

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The IMF said in a statement, “In spite of measures introduced by the CBN (Central Bank of Nigeria) 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.”

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