New Naira Notes: Senate Directs CBN To Extend Mop Up By 6 Months

The Nigerian Senate, Tuesday urged the Central Bank of Nigeria, CBN to extend the mop-up of old Naira notes to 31st July 2023.The upper legislative Chamber through an adopted resolution arrived at the new deadline after a thorough debate.

This was against the backdrop of the earlier resolution in December 2022 which the lawmakers said, was jettisoned by the Apex bank.

Meanwhile, the call for a fresh extension was a fallout of a motion sponsored by Senator Sadiq Suleiman Umar representing Kwara North Senatorial district, in which he said: “the new notes were not enough in circulation”, warning that if the deadline was not extended, there would be chaos in many parts of the country.

Peoplesmind