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Naira Scarcity: Latest CBN News, Update On Naira Notes For March 23rd, 2023



The Central Bank Of Nigeria (CBN) Governor, Godwin Emefiele on Wednesday evening sat with chief executive officers of DMBs, where he disclosed that the apex bank would be giving out the old currency notes in it’s custody to commercial banks effective Thursday (today).
A source that confirmed the result of the meeting to Punch said, Emefiele directed DMBs to start the disbursement of old N1,000, N500 and N200 notes to members of the public effectively.
The source also stated that CBN will also start releasing old notes to commercial banks from Thursday.
Sources in attendance of the meeting noted that the apex bank would also retract all the cash withdrawal limits it put in place in recent months.

Also, it was learnt the CBN would start by releasing crisp old notes to DMBS after which the ones deposited by commercial banks will also be sent out.
It was noted that the apex bank stated at the meeting that bank customers would no longer be required to generate any code before depositing their old notes.

*NLC Orders Nationwide Shutdown Of CBN Offices By Workers*

The Nigeria Labour Congress (NLC) has commanded workers in the country to close down all the offices of the Central Bank of Nigeria (CBN) nationwide starting from next week.

The directive was given by the NLC President, Joe Ajaero, during a press conference in Abuja on Wednesday.

He revealed that the action became necessary due to the naira scarcity and the attendant challenges it has brought the way of Nigerians.

Ajaero gave the directive following the expiration of one-week ultimatum given to the apex bank and the commercial banks in the country to make cash available for Nigerians.
The NLC leader said workers would be directed to stay at home if the CBN refuse to make the naira notes available to Nigerians.
He also lamented the lingering fuel scarcity issues in the country and the attendant challenges it has brought the way of the citizens of the nation.

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