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Naira scarcity eases gradually following CBN’s supply of notes

March 27, 2023
in Business News, Nigeria News
Naira scarcity eases gradually following CBN's supply of notes
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Following the supply of more naira notes by the Central Bank of Nigeria, long queues are gradually dissipating at commercial banks.

But some banks are still flooded by customers, who are lamenting over scarcity of cash.

In Akure, the capital of Ondo State, many residents struggled with scarcity of new and old naira notes, like others across Nigeria.

The banks were flooded by customers, who kept vigil without access to cash.

But things appear to be changing, as some residents have begun to heave a sigh of relief.

This followed movement of naira notes by the Central Bank of Nigeria, CBN from its vaults to commercial banks across the country.

The apex bank also directed commercial banks to open for operations on Saturdays and Sundays to ease the cash flow.

But it is a different story for some customers, who blamed their banks for not doing the needful.

Resident of Akure of Akure want the banks to intensify efforts to make naira notes more available, as they continue to ration cash to customers.

Akinwumi Ogunsusi, a POS operator at the popular NEPA market in the heart of Akure said things have improved, but lamented how the policy affected his business.

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