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CBN dismisses reports on scarcity of new Naira notes

  • Business

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday, dismissed reports on the scarcity of the new Naira notes.

Emefiele, who spoke during a sensitization exercise in Jos, Plateau State, said the commercial banks had received a sizable amount of fresh notes to distribute at counters and Automated Teller Machines (ATMs) across the country.

Represented at the forum by the CBN Director of Payment System Management, Musa Jimoh, the governor said the redesign of the Naira notes was in tandem with global practice which requires a change of currency notes within five years.

He urged the banks to make the Naira notes available to Nigerians.

The apex bank has announced January 31 as the deadline for the withdrawal of the old Naira notes from circulation.