IMF calls for extension of February 10 deadline on cash swap



Uba Group

The International Monetary Fund has advised the Federal Government to extend the February 10 deadline on cash swap.

The IMF gave the advice in Abuja on Wednesday

The IMF, in a statement by Laraba Bonet, hinged its advice on the hardship Nigerians were going through.

“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”.

The IMF’s advice followed a Supreme Court’s order suspending the deadline.