Business
Naira Scarcity “Eases” As CBN Gives Back Old Notes For Banks To “Dispense”
in line with the Supreme Court ruling
The scarcity of Naira notes is about to experience a very sharp drop.
The information available revealed that the Central Bank of Nigeria has directed Banks to get back old Naira notes deposited with the nation’s apex bank.
The directive is in line with the Supreme Court ruling that the old Naira notes remain legal tender till December 31, 2023.
“Before the end of the week, the country would be awash with Naira notes” SocietyNow.Ng gathered.
The move is expected to assuage the sufferings inflicted on the masses by the non-availability in the face of limited redesigned Naira notes after the old Naira notes – N5,000 and N1,000 – were mopped up and initially declared “illegal” by the CBN.
