CBN don reduce new naira allocation and banks dey battle di pressure
E remain Ten days to di January 31 deadline wey Central Bank of Nigeria set for di time wey di N1,000, N500 and N200 notes no go be legal tender. But, according to di report, apex bank CBN don reduce new naira allocation wey dem make available to Deposit Money Banks from N4bn weekly to N700m.
Before di introduction of di redesigned note, banks bin dey load N4bn for dia Automated Teller Machines for di country.
As dem introduce di new notes, di apex bank dey give each banks N700m of di redesigned notes make dem distribute to branches nationwide.
FOR MORE NEWS: Old Naira Notes Rejection: CBN Dey Warn Market Women Make Dem No Reject Old Naira Notes.
This na di reason why new notes neva circulate because customers still dey get mixture of old and new naira notes from dia banks. One top official of di CBN yarn say as CBN don reduce new naira allocation , e dey intentional. Dem do am to force bank customers to embrace alternative payment channels in place of cash.
Di truth be say enough cash no dey for di banks as dey dey try mop out di old notes so that dem go fit beat di CBN deadline.
Director, of Corporate Communications, CBN, Osita Nwanisobi, don follow yarn say di old notes still be legal tender untill January 31.
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