• Home
  • Browse
    • News
    • Documentaries
    • Movie
    • Street Gist
    • Tech
    • Sports
    • Politics
    • Fashion
  • About
No Result
View All Result
LIVE TV
  • Login
  • Home
  • Browse
    • News
    • Documentaries
    • Movie
    • Street Gist
    • Tech
    • Sports
    • Politics
    • Fashion
  • About
No Result
View All Result
  • Login
Home News

CBN Discloses Reason For Naira Scarcity

oweleketv by oweleketv
December 14, 2023
375 24
0
No One Should Refuse Accepting Old Naira Notes As Means Of Payment- CBN Reiterates
548
SHARES
2.5k
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) has opened up on the reason for the naira scarcity across the nation.

The apex bank disclosed that some individuals are hoarding the currency.

Speaking to The Cable on Wednesday, the apex bank’s acting director, corporate communications, Sidi Ali said the situation was being addressed.

She said the CBN had released sufficient cash to its branches across the country for distribution to deposit money banks (DMBs).

“On the issue of cash not being sufficient, there is enough cash. CBN issued enough cash to the deposit money banks (DMBs),” she said.

Ali said, as of March 2023, the currency in circulation amounted to N1 trillion.

“But the figure has risen now because of the situation. We have pushed cash into circulation; we have given cash. As it is now, as at December 11, the currency in circulation is N3.4 trillion.

“So, you see, there is cash out there. And CBN is really giving to banks, except that most of this cash is in the hands of individuals. All these panic withdrawals, hoarding is ongoing

“That is why we are doing sensitisation, letting the public have confidence that this December 31 issue is no more. Let them bring out this cash so that they can do transactions. They can go to the banks, and the banks will deposit with the CBN,” she added.

Ali urged Nigerians to exercise patience as CBN is taking the necessary steps to guarantee cash availability, especially throughout the holiday season and beyond.

Tags: CBN
Advertisement Banner
oweleketv

oweleketv

Related Posts

Nigeria Will Collapse If PDP Disintegrates – Lamido Warns, Says Tinubu Needs Opposition to Stay Accountable
News

Nigeria Will Collapse If PDP Disintegrates – Lamido Warns, Says Tinubu Needs Opposition to Stay Accountable

May 27, 2025
Lamine Yamal Signs Long-Term Deal with Barcelona Until 2031
News

Lamine Yamal Signs Long-Term Deal with Barcelona Until 2031

May 27, 2025
Kaduna Assembly Okays El-Rufai’s Probe Over Abuse Of Office, Money Laundering
News

Court Orders El-Rufai to Pay ₦900 Million for Unlawful Detention of Adara Elders

May 27, 2025
Tinubu Aide Urges Nigerians to Endure Economic Hardship, Says Pain Is “Price of Transformation”
News

Tinubu Aide Urges Nigerians to Endure Economic Hardship, Says Pain Is “Price of Transformation”

May 27, 2025
Tinubu No Longer Accessible To Party Members Who Helped Him Win The Election – Salihu Lukman
News

Tinubu’s Second Anniversary Marked by “Renewed Anger,” Not Progress – Salihu Lukman

May 27, 2025
Galatasaray Officially Unveils Victor Osimhen as New Signing
News

Victor Osimhen Nears €50 Million Transfer to Al-Hilal, Pending Saudi Government Approval

May 27, 2025

Recommended

Nigeria Will Collapse If PDP Disintegrates – Lamido Warns, Says Tinubu Needs Opposition to Stay Accountable
News

Nigeria Will Collapse If PDP Disintegrates – Lamido Warns, Says Tinubu Needs Opposition to Stay Accountable

May 27, 2025
Lamine Yamal Signs Long-Term Deal with Barcelona Until 2031
News

Lamine Yamal Signs Long-Term Deal with Barcelona Until 2031

May 27, 2025
Kaduna Assembly Okays El-Rufai’s Probe Over Abuse Of Office, Money Laundering
News

Court Orders El-Rufai to Pay ₦900 Million for Unlawful Detention of Adara Elders

May 27, 2025

Popular Playlist

Currently Playing

Biafra: Finnish Court Fixes Deadline For Simon Ekpa’s Trial

Biafra: Finnish Court Fixes Deadline For Simon Ekpa’s Trial

Biafra: Finnish Court Fixes Deadline For Simon Ekpa’s Trial

News
Joe Biden Is The Worst President Ever – Donald Trump [Video]

Joe Biden Is The Worst President Ever – Donald Trump [Video]

News
Senator ‘Runs Away’ From Live TV Interview Over Question On 2024 Budget

Senator ‘Runs Away’ From Live TV Interview Over Question On 2024 Budget

News
Easter Holiday: You Are Safe To Travel By Road, Rail, Air, Waterways – IGP Assures Nigerians

Easter Holiday: You Are Safe To Travel By Road, Rail, Air, Waterways – IGP Assures Nigerians

News
Atiku Warns on Imminent Disaster as Obi Slams FG Over Ukraine’s Grains Donation | Newspaper Review

Atiku Warns on Imminent Disaster as Obi Slams FG Over Ukraine’s Grains Donation | Newspaper Review

Celebrity News
  • About
  • Contact Us
Whatsapp: +2347084616073

© 2023 Oweleke TV, All Rights Reserved. Managed by Browsedotcom.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Browse
    • News
    • Documentaries
    • Movie
    • Street Gist
    • Tech
    • Sports
    • Politics
    • Fashion
  • About

© 2023 Oweleke TV, All Rights Reserved. Managed by Browsedotcom.