“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,” IMF Resident Representative in Nigeria, Ari Aisen,
said in a statement on Wednesday.
The CBN had earlier set January 31 as the deadline for the
validity of old naira notes but later extended it to February 10 after outcry
by many Nigerians.
Even after the extension, Nigerians still found it difficult
to access both new naira notes, sparking protests from parts of the country.
Meanwhile, the Supreme Court on Wednesday restrained the
Federal Government from implementing the February 10 deadline for the old naira
notes
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