The Central Bank of Nigeria (CBN) has began the disbursement of old naira notes as the Nigerian government intensified efforts to end the crippling cash scarcity.Information Guide Nigeria

It is no news that naira scarcity has grounded the economy and inflicted severe pains on bank customers across the country.

According to LEGIT.NG, the CBN had directed banks to pick the old N1,000, N500, and N200 notes across its offices nationwide for disbursements to customers.NYSC Portal

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PUNCH reports that this development follows a meeting between the CBN Governor, Godwin Emefiele, and bank CEOs on Wednesday, Mach 22, 2023.

According to the report, commercial banks received the old naira notes nationwide from CBN offices on Thursday, March 23, 2023.

LEGIT.NG reports that the report quotes multiple bank CEOs and top executives of banks who confirmed the release of the old notes.

The source said: “The CBN has started giving us old notes. However, it will take some time for the currency to circulate.”

In addition, sources at the CBN confirmed that the apex bank would reissue the old notes it mopped up from the public to the banks.JAMB Result

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