The bank says it is ready to help Nigeria if needed, according to Bloomberg.
The International Monetary Fund has advised Nigeria to be careful in its plan to redesign and replace the naira.
The governor of the bank, Godwin Emefiele, said the plan would allow the bank to mop up N2.73 trillion out of the N3.23 trillion currency in circulation that is outside the vaults of commercial banks. The plan has drawn criticisms over its limited time for exchange. Analysts say the move may further mount pressure on the naira as a scramble by holders of illicit money to change their cash into dollars further drives up the exchange rate.
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