fbpx
Connect with us

Business

We‘ve Sufficient Stock Of Currency Notes, Says CBN

noted that there is sufficient stock to facilitate economic activities in the country..

Published

on

yemi cardoso
CBN Governor, Yemi Cardoso

Central Bank of Nigeria, CBN, has condemned reports of insufficient stock of currency notes in the country.

VerseNews reports that the CBN through its Director Corporate Communications, Isa AbdulMumin, noted that there is sufficient stock to facilitate economic activities in the country.

He made this known on the CBN Twitter handle now the X platform. He said: “The attention of the Central Bank of Nigeria has been drawn to reports of alleged scarcity cash at banks, automated teller machines, ATMs, Point of Sale and among Bureax de Change, BDCs, in some major cities across the country.

Advertisement

“Our findings revealed that the seeming cash scarcity in some locations is due largely to high volume withdrawals from CBN branches by Deposit Money Banks, 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 branches of the CBN across the country are also working to ensure the seamless circulation of cash in their respective states of operation.

Advertisement

“Members of the public are therefore advised to guard against panic withdrawals as there is sufficient stock to facilitate economic activities. Nigerians are also advised to embrace alternative modes of payment which would reduce pressure on using physical cash.

WhatsAppCOnnect

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

Cubana Chief Priest Advises Yahaya Bello Cubana Chief Priest Advises Yahaya Bello
Celebrity Gist16 hours ago

‘No Need To Run’, Cubana Chief Priest Advises Yahaya Bello

Cubana Chief Priest advises Yahaya Bello to cooperate with the EFCC if summoned, sharing his own experience of being arraigned...

Nigeria Correctional Service Nigeria Correctional Service
Entertainment17 hours ago

Nigeria Correctional Service Clarifies Bobrisky’s Relocation From Ikoyi Prison To Kirikiri

The Nigeria Correctional Service clarified that Bobrisky remains at Ikoyi Prison, denying rumors of his relocation to Kirikiri Prison.

engagement farming engagement farming
Tech17 hours ago

Elon Musk Cracks Down On Engagement Farming On X, Threatens Suspension

Elon Musk has warned against engagement farming on the platform, threatening to suspend accounts that practice it.

NAFDAC Raids Sahad Stores NAFDAC Raids Sahad Stores
News18 hours ago

NAFDAC Raids Sahad Stores And H-Medix In Abuja, Confiscates N50m Worth Fake Cosmetics, Drugs

NAFDAC Raids Sahad Stores in Abuja, seizing counterfeit cosmetics and drugs in a series of operations across various locations.

Tunde Onakoya Tunde Onakoya
Entertainment18 hours ago

Guinness World Record: Davido Backs Nigerian Chess Master Tunde Onakoya in New York

Tunde Onakoya is receiving significant support, including from Afrobeat star Davido, as he attempts to break the Guinness World Record...

Yahaya Bello's Police Escort Yahaya Bello's Police Escort
News21 hours ago

BREAKING: IGP Withdraws Yahaya Bello’s Police Escort

IGP orders withdrawal of Yahaya Bello's police escort, citing compliance with utmost importance.

Governor Ododo Governor Ododo
Politics21 hours ago

Governor Ododo’s Move To Shield Yahaya Bello Sets A Dangerous Precedent

Governor Ododo's recent intervention to whisk former Kogi State Governor Yahaya Bello away during an ongoing investigation by the EFCC...

Yahaya Bello On Watchlist Yahaya Bello On Watchlist
Politics21 hours ago

BREAKING: FG Places Yahaya Bello On Watchlist, Immigration Alerts DSS

FG has placed Yahaya Bello on watchlist amidst allegations of N80.2 billion money laundering.

Moniepoint POS Charges Moniepoint POS Charges
Business1 day ago

Moniepoint POS Charges List

Moniepoint POS Charges List: For withdrawals, they charge 0.5% for transactions under N20,000 and a flat N100 for higher amounts.

4U supermarket 4U supermarket
News1 day ago

BREAKING: FCCPC Shuts Down Popular 4U Supermarket In Abuja

FCCPC has launched a campaign at 4U Supermarket in Wuse 2, Abuja, to enforce price display and quantity compliance.

Advertisement