New naira scarcity: CBN pledges more cash to commercial banks

The Central Bank of Nigeria, CBN, on Thursday promised to supply commercial banks with plenty of funds to address the new Naira note scarcity in Kogi State.

Kogi CBN Branch Controller, Ahmed Sule, made the vow while speaking with NAN in his office in Lokoja.

Recall that protesters had on Wednesday picketed some commercial banks over purported non-compliance with the apex bank’s directive to make the new notes available to citizens across the nation.

According to Sule, the scarcity of the new Naira might have resulted in some commercial banks not opening for customers on Wednesday and Thursday.

He said, “I wish to announce to you that we’re expecting our stock of the New Naira notes very soon for distribution to the commercial banks operating here in Kogi.

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“We’re aware of the difficult times our fellow citizens are in right now, and we expect the [commercial] banks to help ameliorate the people’s sufferings by dispensing as we so directed them.

“We’ll soon invite them [commercial banks] to come for their allocations as we’re expecting it today, being Thursday.

“What we give the banks is weekly allocations and a very substantial one for the week.”

NAN report

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