The Central Bank of Nigeria (CBN) was urged by the Nigerian Senate on Tuesday to continue collecting old Naira notes through July 31, 2023.

Following a lengthy debate, the upper legislative chamber decided on the new deadline and adopted a resolution to that effect.

The lawmakers claimed that the Apex Bank had abandoned the earlier resolution from December 2022 as a backdrop to this.

The notes in the denominations of N200, N500, and N1000 have been redesigned and are currently in use, according to Naijacrawl.

Due to the general election that will take place next month, the redesign has received harsh criticism for its timing.

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.