Financial experts have applauded the decision of the Central Bank of Nigeria to extend the deadline for the swapping of the new naira notes with the old ones in circulation to February 10.
The apex bank’s decision on Sunday followed clamours by Nigerians including stakeholders, the 36 state governors, the Nigerian Bar Association, the Arewa Consultative Forum and bank customers, for a review of the policy and an extension of the January 31 deadline.
“The revision of the cash withdrawal limits confirms that the apex bank is following up issues and means well for Nigerians. Uwaleke also stressed that the new deadline was slated before the February 25 presidential election to reduce vote-buying and to discourage the current practice of rejection of the old notes even though they were still legal tenders.
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