The deadline for replacing old money with redesigned banknotes is being extended by the Central Bank of Nigeria. This decision was made public at the end of the day on Monday, March 13, 2023. The change had triggered a cash crunch, forcing businesses to close and leaving millions of people unable to withdraw their money.

The old es 200 bills Naira, 500 naira ($1.08) and 1,000 naira will continue to be legal tender until December 31, 2023. According to Isa Abdulmumin, this extension was intended to comply with a directive from the country's Supreme Court, which ruled that the implementation of the program was against the law. Indeed, thousands of people queued at banks in Abuja, the capital of Nigeria, on Tuesday, March 14, without access to old or redesigned banknotes. Since the beginning of February, there has been a shortage of cash in the country; because, new bills have not been printed in sufficient numbers to replace the old ones in this cash-dependent country.

Les autorités du pays ont été accusées de mal appliquer la politique dans la plus grande économie d' Afrique où, selon la Banque mondiale, les services de Digital payments are generally unreliable and where only 45% of adults own a bank account.