In a bid to calm tensions over an absence of money in Nigeria, President Muhammadu Buhari has introduced that the previous 200 naira ($0.43; £0.36) notes will stay authorized tender for one more 60 days.
In latest days there have been violent protests as individuals struggled to pay money for newly designed banknotes.
The deadline at hand in previous money was presupposed to have been final Friday.
However not sufficient new notes have been launched, leaving many with out money to pay for important objects.
Whereas Nigerians now have till 10 April to make use of the previous 200 naira notes, Mr Buhari stated that the previous 500 and 1,000 naira notes may solely be exchanged on the central financial institution and different designated locations.
Nigerians have confronted lengthy queues at money machines, with some sleeping exterior banks to attempt to be first in line to get some cash.
Folks say they’ve been compelled to skip meals and have been unable to pay for primary companies like bus or taxi fares in a rustic the place money remains to be broadly used. An estimated 40% of the inhabitants shouldn’t have entry to financial institution accounts.
With elections due on 25 February, President Muhammadu Buhari has been going through calls to take motion to keep away from dropping votes for the ruling All Progressives Congress.