BREAKING: CBN Mops Up N3.23tr To Tackle Inflation In Nigeria

CBN has commenced the mopping up of N3.23tr to tackle the growing inflation rate in Nigeria.

 

Newsonline reports that the Central Bank of Nigeria (CBN) will in the next 100 days mop up N3.23 trillion from circulation to tackle rising inflation across the country.

 

This online news platform understands that CBN Governor Godwin Emefiele made the announcement during a special briefing in Abuja.

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He said that of the N3.23 trillion cash in circulation as of September 2022, N2.73 trillion is outside the vault of banks.

Newsonline Nigeria reports that CBN Governor Emefiele said both the funds within and outside the banking system will be mopped up from today till January 31, 2023, to the CBN’s vault to control rising inflation.

 

Details Shortly…