naira scarcity

In a worrying development, the scarcity of Naira notes in Nigeria has persisted and intensified, presenting a significant challenge despite the Central Bank's efforts to ease the cash crunch. According to recent investigations by Financial Vanguard, banks across the country are still grappling...

Amid the festive season's hustle and bustle, Christmas shoppers nationwide are facing heightened frustration as a severe shortage of naira disrupts holiday spending plans. Investigative reports by The PUNCH reveal that banks are still rationing cash over-the-counter, with Automated Teller...

In response to a surge in complaints about the scarcity of naira notes across various channels, the Central Bank of Nigeria (CBN) has clarified the underlying reasons behind the issue. According to a statement from the CBN's Corporate Communications Department, the apparent currency scarcity...

In the lead-up to Christmas, certain areas of the Federal Capital Territory (FCT), particularly in the AYA region of Abuja, are facing a shortage of Naira. Seven commercial banks in the area have reported difficulties in dispensing cash, with ATMs proving unresponsive for about a week. A DAILY...

In defiance of recent Central Bank assurances, reports of a renewed Naira scarcity have emerged across several states, including Abuja, Lagos, Kano, Kwara, Gombe, Edo, Sokoto, and Ekiti. The PUNCH's survey exposed the challenges faced by bank customers and Point of Sale operators, who bemoan...

Central Bank of Nigeria (CBN) has declared that the old naira notes, initially slated for discontinuation, will now remain legal tender indefinitely. The CBN's decision to extend the legal tender status comes in the wake of concerns over cash scarcity and challenges faced by residents in...