The Senate on Tuesday again urged the Central Bank of Nigeria (CBN) to extend the use of old Naira notes till July 31, 2023.
This followed a motion on naira redesign moved by Senator Sadiq Umar (APC-Kwara North) on the floor.
The Upper Chamber on December 28, 2022, advised the CBN to extend the phasing out of old currency notes scheduled for January 31, 2023 for six months.
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However, the CBN has vowed to go ahead with its January 31, 2023 deadline.
Senator Umar said the call becomes necessary in view of the financial hardship the “rushed” phasing out of the old Naira notes would inflict on Nigeria, especially the rural populace, who don’t readily have access to banking facilities.
