IMF advise CBN to extend February 10 deadline on Naira Swap




The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to extend February 10 for the interchange of the old Naira notes for the new ones.

The advice was given to CBN on Wednesday, February 8.


The IMF’s representative for Nigeria, Ari Aisen said the deadline should be extended if the difficulties in getting the new Naira notes persist.


“In the light of hardships caused by disruption to trade and payments due to shortage of new banknotes available to the public, despite 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 deadline,” The statement read.




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