Naira scarcity: PMB appeals for patience


President Buhari has asked Nigerians to exercise patience, that the balance of seven of the 10-day extension will be used to crackdown on whatever stood in the way of successful implementation of the naira swap.

Buhari acknowledged the hardship Nigerians have been facing since the issue of the new Naira note started saying he had seen television reports about the situation and how it affects local businesses.

Reports from the official Twitter handle of the Nigerian Government, the president said while he was about giving approval to the policy, that he specifically asked the CBN to accept an undertaking that no new notes would be printed in a foreign country.

The president said the CBN assured him that there was enough capacity, manpower and equipment to locally print the money here in Nigeria. “I need to go back to find out what is actually happening,” the president said.

“I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” the President assured.


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