By Olanrewaju Joseph (SIWES student, OSCOTECH)
Reports confirmed scarcity of Naira in Abuja, Lagos, Kano, Kwara, Gombe, Edo, Sokoto, and Ekiti States. Bank customers and Point of Sales operators express difficulty accessing cash for economic activities.
This follows recent assurances from the Central Bank of Nigeria that there is ample Naira in circulation, asserting no need for panic withdrawals.
The CBN, in a circular titled All Banknotes Issued by the CBN Remain Legal Tender, acknowledges reported scarcity and emphasizes that all CBN-issued banknotes remain legal tender, addressing concerns about the legality of old Naira notes.
