Latest CBN news update on New Naira Notes today, Wednesday 22nd March 2023, can be accessed below.
Following the controversy associated with the new naira notes rages on, News Rain Nigeria brings you the latest update from Central Bank of Nigeria (CBN) on naira notes.
This means the latest updates on the Naira crisis in Nigeria can be accessed on this page.
Below are the latest CBN news update on new Naira notes today
Some normalcy has returned despite persistent queues in some banks and ATMs across Nigeria.
Bank officials say the Central Bank of Nigeria (CBN) supplied more old naira notes than the newly redesigned N200, N500, and N1,000 notes.
CBN supply more old notes
The development follows the ruling of the Supreme Court on March 3, 2023, which extended the validity of the old naira notes till December 31, 2023.
According to reports, banks began simultaneous dispensing of the old naira notes over the counters and via ATMs a few days after CBN issued the directive.
Traders, Transporters, petrol stations, and others have begun accepting the old naira notes after initial skepticism.
Banks say they need more new naira notes as both ATMs and bank tellers dispense more of the old naira notes.
Bank officials say they have not had new supplies of the new naira notes since CBN reintroduced them into circulation.
A banker with one of the new-generation banks said that CBN had paused the circulation of old naira notes and only resumed issuing old notes as directed by the Supreme Court.
“WE HAVE NOT RECEIVED ANY NEW NAIRA NOTES IN THE PAST ONE. CBN IS REISSUING ONLY OLD ONES,” SHE SAID.
The President, Major General Muhammadu Buhari (retd.), on Saturday said the scarcity of naira notes reduced the incidence of vote-buying. The President, after voting in Daura, Katsina State, urged Nigerians to collect money offered to them by vote-buyers but vote their conscience.
The naira scarcity had led to crisis nationwide, in which case many Nigerians lamented their inability to buy necessities or move around. The Central Bank of Nigeria had come under heavy criticism for the policy, which many described as ill-timed and poorly implemented.
Buhari told journalists after voting at Ward A, Sarkin Yara Polling Unit, 003, in Katsina, “I am aware that the money is not there like before for people to sway voters, like they used to do. And if they bring out money, the people should pocket it and still vote their conscience.”
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, disclosed this in a statement on Saturday. The statement was titled ‘Nigerians know we mean what we say, they will vote for us again, says President Buhari.’
The President was quoted as saying his regime had “diminished” the practice of vote-buying. He boasted that the All Progressives Congress would emerge victorious in the governorship and state Assembly elections nationwide.