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Home World Old Naira exchange: 10 days inadequate to make up CBN’s shortcomings- Expert

Old Naira exchange: 10 days inadequate to make up CBN’s shortcomings- Expert

Economic analyst, Muda Yusuf, has said that 10 days extension to swap old Naira notes by the Central Bank of Nigeria is not enough.

Yusuf, in a statement responding to the CBN’s extension of January 31 deadline for the exchange of old Naira notes on Sunday, said that 10 days is grossly inadequate to make up for the glaring shortcomings of the apex bank in this process. 

He said: “Just got news that the deadline for the currency swap has been extended by 10days.  The CPPE believes that 10 days is grossly inadequate to make up for the glaring shortcomings of the apex bank in this process”

In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.

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