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The Senate on Tuesday urged the Central Bank of Nigeria (CBN) to extend the deadline for circulation of old naira notes to June 30, 2023.
The CBN has fixed the deadline for Jan. 31, 2023.
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This followed a motion moved by Senator Sadiq Sulaiman (APC-Kwara North) at Tuesday’s plenary..
The Senate had, on December 28, 2022, advised the CBN to extend the phasing out of old currency notes for six months.
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Senator Sulaiman said the call became necessary in view of the financial hardship the phasing out of the old Naira notes was inflicting on Nigerians.
He said the new notes were scarce and not readily available.
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