Sunday, July 6, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Economy

CBN Gives Update On Naira Scarcity

Adams Bamidele by Adams Bamidele
December 11, 2023
in Economy, Featured
0
CBN Issues Fresh Guidelines To Customs On Import Clearance Exchange Rate
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The Central Bank of Nigeria, CBN, has said enough Naira notes are in circulation amid reports of scarcity of banknotes.

In a statement issued by the Corporate Communications Department of the CBN, the apex bank explained the reasons behind the scarcity of Naira notes in some parts of the country.

Related posts

2027: I’ll Run For President, Not Atiku’s VP – Peter Obi

2027: I’ll Run For President, Not Atiku’s VP – Peter Obi

July 6, 2025
Senate Moves To Suspend Natasha For Six Months

Natasha Set To Resume Senate Duty After Court Ruling

July 6, 2025

CBN’s reaction is coming amid a series of complaints by some bank customers concerning the scarcity of Naira notes at bank counters, Automated Teller Machines (ATMs), Points of Sale (PoS), and Bureaux de Change (BDCs).

However, the apex bank said the seeming currency scarcity was occasioned by large volume withdrawals of cash from various CBN branches by Deposit Money Banks (DMBs).

It stated that panic withdrawals by bank customers were also partly responsible for the seeming scarcity.

The CBN said there is no shortage of naira notes, noting that there is adequate supply of the currency in the economy.

“The attention of the CBN has been drawn to reports of alleged scarcity of cash at banks, ATMs, PoS and BDCs in some major cities across the country.

“Our findings reveal that the seeming cash scarcity in some locations is due largely to high volume withdrawals from the CBN branches by DMBs and panic withdrawals by customers from the ATMs.

“While we note the concerns of Nigerians on the availability of cash for financial transactions, we wish to assure the public that there is sufficient stock of currency notes for economic activities in the country,” the statement reads.

Earlier, DAILY POST alerted Nigerians of the circulation of fake Naira notes.

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

Coalition Against APC: Nigeria’s Opposition Parties In Disarray

Next Post

Edo Gubernatorial Election: Akpata Denies Endorsement Of Godwin Obaseki

Next Post
Edo Gubernatorial Election: Akpata Denies Endorsement Of Godwin Obaseki

Edo Gubernatorial Election: Akpata Denies Endorsement Of Godwin Obaseki

RECOMMENDED NEWS

APC Will Critically Look At Calls For Restructuring

8 years ago
JUST IN: Protest Erupts In Rivers As Pro-Fubara Supporters Demand Gov’s Reinstatement

JUST IN: Protest Erupts In Rivers As Pro-Fubara Supporters Demand Gov’s Reinstatement

3 months ago
OSIEC Chairmanship: I’m No Longer PDP Member – Hashim Abioye

OSIEC Chairmanship: I’m No Longer PDP Member – Hashim Abioye

1 year ago
JUST IN: Famous Nollywood Actor, Junior Pope Escapes Death, Revived And Receiving Treatment In Hospital

AGN Halts Movie Productions Involving Boat Rides And Riverine Areas Following Junior Pope’s Death

1 year ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections ADC Akpabio Alaafin Of Oyo APC Atiku Bola Tinubu Coalition Dangote Refinery Defection Donald Trump Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha National Power Grid Nigerian National Petroleum Company Limited (NNPCL) Nigeria Police Force Nnamdi Kanu NNPC NNPCL PDP PDP Crisis Peter Obi Petrol Price President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Sexual Harassment Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • 2027: I’ll Run For President, Not Atiku’s VP – Peter Obi
  • Natasha Set To Resume Senate Duty After Court Ruling
  • Obasanjo-era Presidential Jet Listed For Sale In Switzerland – FG
  • Igbos Won’t Trade Kanu’s Freedom For Your Re-election, Ohanaeze Tells Tinubu

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

2027: I’ll Run For President, Not Atiku’s VP – Peter Obi

2027: I’ll Run For President, Not Atiku’s VP – Peter Obi

July 6, 2025
Senate Moves To Suspend Natasha For Six Months

Natasha Set To Resume Senate Duty After Court Ruling

July 6, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

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
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights