We Have Enough Cash In Circulation – CBN Speaks On Naira Scarcity
The Central Bank of Nigeria (CBN) has claimed that there is enough cash in circulation.
This comes amid the scarcity of Naira in some parts of the country.
CBN’s Acting Director in charge of Corporate Communications, Mrs Hakama Ali, gave the latest assurance in a chat with reporters in Abuja, on Wednesday.
Ali confirmed that the apex bank is monitoring the situation and had released sufficient cash to its branches across the country for onward distribution to Deposit Money Banks.
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“The CBN has adequate cash to meet the day-to-day transaction needs of Nigerians.
‘We appeal to Nigerians to be patient while the CBN does the needful to ensure the availability of cash, particularly during the yuletide and beyond,” she said.
She added that as of February 2023, there was about N1 trillion in circulation in the country, while that figure had risen to over N3.4 trillion as of December 11, 2023.
