Nigeria's Atiku joins calls to extend deadline on old banknotes

FILE PHOTO: A person holds a new 1000 Naira note as the Central Bank of Nigeria releases the notes to the public through the banks in Abuja, Nigeria, December 15, 2022. REUTERS/Afolabi Sotunde/File Photo

LAGOS (Reuters) - Nigerian opposition presidential candidate Atiku Abubakar urged the central bank on Saturday to extend a Jan. 31 deadline to phase out old high-value banknotes, a measure many Nigerians fear will disrupt business in the cash-reliant economy.

Nigerians have to turn in 1,000 ($2.17), 500 and 200 naira notes by Tuesday when they cease to be legal tender. The central bank started releasing newly designed notes last month but many Nigerians say they are not yet available in banks.