Nigerian Central Bank Yet To Disclose Amount Of New Naira Notes Disbursed To Each Commercial Bank – FalanaThe Falana & Falana’s Chambers had since February 16, 2023, written to the CBN governor, requesting for information on the disbursement of the new naira notes to commercial banks.
The group also demanded that the CBN provide the list of customers who have withdrawn more than the N100,000 maximum sum required by the apex bank. “1. MAXIMUM CASH WITHDRAWAL; The Central Bank of Nigeria had on 6th December, 2022 announced a new policy limiting over-the-counter cash withdrawals by individuals and corporate entities to N100, 000 and N500, 000, respectively, per week. However, the CBN later announced a review of the policy with individual withdrawal limit pegged at N500,000 weekly and organisations N5 million weekly.
“3. ALLEGED DIVERSION OF BILLIONS OF NEW NAIRA NOTES BY POLITICIANS AND BANKS; Mr. Emefiele has however insisted that enough new Naira notes have been disbursed to the Commercial Banks. But he has since turned round to accuse unnamed politicians of capturing the billions of new Naira notes with the connivance of the management staff of the commercial banks.
“The President directed the CBN"shall ensure that new notes become more available and accessible to our citizens through the banks." It has however been revealed that the N200 note constitutes less than 10 percent of currency volume in circulation in the last seven years. The implication is that the presidential intervention, which is a belated acknowledgement of the fact that the CBN has not printed enough new Naira has not addressed the crisis of currency scarcity in the country.
Sir, do mean the amount disbursed to INEC or banks? The banks don't have any with them as people still crowd the banks for their own money. The deed has been done!
Let CBN release cash to banks so that the ordinary citizens can collect money for daily upkeep, people are just stressed out with all their money locked up in the bank.
Why is GodwinIEmefiele still refused to opened the banks thereby subjecting the Masses to suffering? NigeriaGov SERAPNigeria AIT_Online ARISEtv hrw IMFNews
This Tinubu man again. 🚶♂️🚶♂️🚶♂️
Them no go tell us that one o
That money will not be worth more than the paper it’s printed on in less than 4yrs! Hyperinflation has a compounding effect.
This EMEFIELE NEED TO BE ARRESTED
This one need to stop talking
Outdated ECONOMIST. What do you expect?
Go and sit down falana
Please, tell the central bank and their boss to make cash available please. The election is over
We are now back to Emiefele 🤦♂️
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