February 16, (THEWILL) – The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has met with 15 heads of commercial banks to ease the ongoing cash crunch in the country.
THEWILL reports that President Muhammadu Buhari, on Thursday, directed the apex bank to recirculate the old N200 bank notes in order to improve currency circulation in the country
Addressing State House correspondents shortly after attending a meeting between President Buhari and the House of Representatives’ ad hoc committee on new naira redesign and naira swap policy at the Presidential Villa, on Thursday, Emefiele assured Nigerians that the old N200 notes will be made available immediately.
The CBN boss said he held a crisis management meeting with 15 Chief Executives of Deposit Money Banks earlier on Thursday, in Abuja, on the new strategies to resolve the scarcity of the Naira notes.
He urged Nigerians to support the naira redesign policy, saying it will go a long way in helping the nation’s economy.
Emefiele assured that the CBN will continue to do everything possible to ease the sufferings currently being experienced by Nigerians due to the cash crunch.
“Mr. President has given directives in a nationwide broadcast, so CBN is favourably disposed to carry out the directives to the latter. We are going to release the old Naira notes back in circulation to ease the pressure.
“I have met with 15 commercial banks in Abuja, on ways to ameliorate the sufferings of Nigerians, due to the new Policy but it’s for the benefit of the country. I plead with Nigerians to give the policy the chance to succeed.
“We have put safeguards to ensure that the banks work with us to make both the redesigned Naira notes and old notes available to customers.”
