• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Monday, June 2, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

CBN, Banks to re-circulate N2trn for distribution

Banknotes

The Matters Press by The Matters Press
December 19, 2023
Reading Time: 1 min read
0
Buhari launches eNaira, first digital currency in Africa

Lagos, Dec. 19, 2023: Commercial banks and the Central Bank of Nigeria (CBN) are actively working to get more than N2 trillion in circulation back into the banks for distribution, says Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI).

RELATED POSTS

CUPP goofs over President Tinubu’s 2027 endorsement by governors

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

Tinubu explains mission as he marks second year in office

ASSBIFI’s President, Mr Olusoji Oluwole, on Monday in Lagos that efforts were ongoing to ensure cash was well distributed to areas that were badly affected.

Oluwole was speaking against the backdrop of naira scarcity being experienced in some major cities across the country.

A year ago, the CBN implemented currency redesign which led to a severe cash crunch and hardship across the country.,

Olumide also recalled that the action led to wanton destruction of many bank branches following unverified and misleading reports purportedly from the CBN blaming banks for the currency scarcity.

“The current scarcity has mostly been traced to panic hoarding by people who either do not want to be caught in the same problem or intend to unfairly capitalise on the fears of people.

“This is in spite of the recent announcement that the old currency remains a legal tender indefinitely.

“POS operators are expected to be regulated and if found exploiting people with charges that are not prescribed should be prosecuted, “ Oluwole said.

Tags: Banknotes
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Next Post

AIL unveils Africa Investment Leaders Forum to foster growth

Nigeria regains top crude oil production spot in Africa

NNPCL eyes 2m barrels of crude oil daily in 2024

Recommended Stories

Corruption caused Nigeria’s poor resource management

Osinbajo restates importance of peace

November 18, 2020

Saudi new recycling plan to contribute $32bn – Report

January 16, 2024
Scheme to repatriate $200bn in forex requires right mechanisms

CBN urges Nigerians to shun FOREX speculation

July 30, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • CUPP goofs over President Tinubu’s 2027 endorsement by governors
  • Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling
  • Tinubu explains mission as he marks second year in office

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us