• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Monday, June 9, 2025
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
Home Headline

CBN Gives Fresh Update On Naira Scarcity In Nigeria

CBN’s reaction is coming amid a series of complaints by some bank customers concerning the scarcity of Naira notes at bank counters, Automated Teller Machines (ATMs), Points of Sale (PoS), and Bureaux de Change (BDCs).

by NewsOnline Nigeria
December 11, 2023
in Headline
0
CBN

Central Bank of Nigeria

CBN has given a fresh update on the Naira scarcity in Nigeria.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria, CBN, has said enough Naira notes are in circulation amid reports of scarcity of banknotes.

 

In a statement issued by the Corporate Communications Department of the CBN, the apex bank explained the reasons behind the scarcity of Naira notes in some parts of the country.

 

ALSO: Rivers Crisis: Assembly Members Loyal To Wike Insist on Impeaching Fubara

 

CBN’s reaction is coming amid a series of complaints by some bank customers concerning the scarcity of Naira notes at bank counters, Automated Teller Machines (ATMs), Points of Sale (PoS), and Bureaux de Change (BDCs).

 

However, the apex bank said the seeming currency scarcity was occasioned by large volume withdrawals of cash from various CBN branches by Deposit Money Banks (DMBs).

 

It stated that panic withdrawals by bank customers were also partly responsible for the seeming scarcity.

 

The CBN said there is no shortage of naira notes, noting that there is adequate supply of the currency in the economy.

 

“The attention of the CBN has been drawn to reports of alleged scarcity of cash at banks, ATMs, PoS and BDCs in some major cities across the country.

 

“Our findings reveal that the seeming cash scarcity in some locations is due largely to high volume withdrawals from the CBN branches by DMBs and panic withdrawals by customers from the ATMs.

 

“While we note the concerns of Nigerians on the availability of cash for financial transactions, we wish to assure the public that there is sufficient stock of currency notes for economic activities in the country,” the statement reads.

 

Earlier, NewsOnline Nigeria alerted Nigerians of the circulation of fake Naira notes as was made known by the Central Bank of Nigeria.

Previous Post

Nigeria News & Trending Naija News Today, Monday 11 December 2023

Next Post

BREAKING: Edwin Clark Writes Open Letter To Tinubu Over Ondo Crisis (FULL TEXT)

Next Post

BREAKING: Edwin Clark Writes Open Letter To Tinubu Over Ondo Crisis (FULL TEXT)

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria

Exit mobile version