• Business - Economy
  • Updated: January 27, 2023

NLC Says New Naira Notes Not In Circulation, Urges CBN To Extend Deadline

The Nigerian Labour Congress (NLC) has urged the Central Bank of Nigeria to extend the upcoming January 31 deadline for the phasing out of old naira notes in the country, stating that the new notes are not in circulation.

Ayuba Wabba, the NLC President said this in a press briefing on Thursday in Abuja.

However, the CBN insists that there is no scarcity of new naira notes in Nigeria as there is enough supply of the new notes to commercial bank ATMs.

The NLC President noted that the union has reached out to the CBN Governor and the Presidency, citing that banks are still giving out old notes.

“We have tried to respond officially by writing to the CBN governor. We also wrote to the President to say that this new policy of changing our Naira needs to be revisited.

“It is obvious that even in the city centres, banks are still dispensing old notes and this is correct.

"I remember, I went to about 10 banks and none was actually dispensing the new notes.

“In fact, most of the banks now, if you are lucky, will dispense only a few notes and you can check that around," the NLC president said. 


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Felicia Abisola  Olamiji
Felicia Abisola Olamiji

  A graduate of English Language from Olabisi Onabanjo University, passionate about learning new...

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