Naira Redesign: IMF Urges CBN To Extend Deadline For Currency Swap

• The IMF has urged the CBN to extend the February 10 deadline for swapping of naira notes.

• The IMF gave the counsel in the wake of the challenges faced by Nigerians across the country.

• The IMF said the extension will help to mitigate the challenges in the banknote swap process.

EKO HOT BLOG reports that 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.

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“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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