Categories: News

Naira Scarcity: CBN Governor, Emefiele Gives Fresh Directive To 15 Bank Executives

The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, says he has met with 15 bank executives and directed them to make the old 200 naira notes available from Thursday (today).

He made this known after attending a meeting between President Muhammadu Buhari and the House of Representatives Special Ad Hoc Committee on Naira Redesign Policy, Cashless Policy, and Currency Swap on Thursday.

Advertisement

In a chat with State House Correspondents, Emefiele who described himself as a servant appealed to Nigerians to allow the policy to work because he believes it will bring advancement to the nation’s economy when the challenge of illicit financial flows and insecurity is resolved.

The CBN Governor stated that the hardship and temporary pains due to the policy are regrettable, but assured that the apex bank will continue to work to ease the sufferings of Nigerians owing to the cash crunch.

Advertisement

Buhari had earlier in a nationwide broadcast, directed the CBN to release old N200 notes into circulation to co-exist with new N200, N500, and N1,000 banknotes for 60 days.

He, however, said old N500 and N1,000 banknotes are no longer legal tender in Nigeria.

Advertisement

The President also apologised to Nigerians over the difficulty experienced in the implementation of the naira redesign policy.

 

Advertisement
Oluchi Nzekwe

Recent Posts

Tinubu promotes Acting Chief of Army Staff, Oluyede to Lt Gen

President Bola Tinubu has promoted the acting Chief of Army Staff, Olufemi Oluyede to the…

3 hours ago

Digital Transformation: Maida, Kekere-Ekun Speak At NCC’s Annual Workshop for Judges in Lagos

Welcome Address Delivered at the 2024 Edition of the Judges Workshop at Sheraton Hotel Ikeja,…

9 hours ago

Breaking: House Of Reps Finance Committee Visits FIRS

The House of Representatives Finance Committee has paid a working visit to the headquarters of…

10 hours ago

BREAKING: Tinubu govt drops treason charges against EndBadGovernance protesters

  The Federal High Court in Abuja has dismissed the treason charges brought against the…

14 hours ago

#USRoadToWhiteHouse2024: Trump-Harris polls remain tied in battleground states…

What to know about the end of the #USElection2024 campaign The most recent polling analysis…

14 hours ago

#USElection2024 Live Updates: Trump Vs Harris…Latest Results…Latest Polls

#US election 2024 Live Updates:  What you need to know about USelection2024 latest polls •…

14 hours ago