The Central Bank of Nigeria (CBN) has revealed that there is no scarcity of new naira notes, noting that it has supplied commercial banks massively with the new notes.
Godwin Emefiele, the CBN Governor represented by Musa Jimoh, the Director of the Payment System Management Department of the bank disclosed this in Jos.
The Nigerian Senate urged the CBN to extend the deadline by six months but the CBN says there is no going back on its January 31 deadline.
The CBN said there is enough supply of the new notes to commercial bank ATMs, and urged banks to desist from keeping cash away.
"The CBN has massively supplied the new notes to commercial banks to dispense both at counters and ATMs.
"This is to enable quick circulation and we want to advise commercial banks to desist from keeping the cash away from the public or face the stiffer sanction", Emefiele stated.
The CBN Governor also advised Nigerian to deposit old notes before the deadline, insisting that there is no going back.
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