'I'm Begging In God's Name": CBN Sends Message to Nigerians, Commercial Banks Over Scarcity of New Naira Notes

'I'm Begging In God's Name": CBN Sends Message to Nigerians, Commercial Banks Over Scarcity of New Naira Notes

  • The Central Bank of Nigeria has urged Nigerians to be patient as naira scarcity persists
  • Godwin Emefiele CBN governor has also called on commercial banks to provide a resting place with chairs and tent
  • The old design of 1000, 500, and 200 naira notes is expected to be phased out on February 10

The Central Bank of Nigeria has appealed to Nigerians to be patient as the newly redesigned naira notes will be in circulation and accessible in no time.

Godwin Emefiele, Governor of the CBN made the appeal while speaking with journalists on Friday, February 4, 2022.

According to him people should be calm and adopt a good queuing system while trying to get new notes, Punch reports.

CBN governor
CBN promises naira scarcity will end soon Photo credit: @cbn
Source: Getty Images

He also added that the new naira notes are for the benefit of the Nigerian economy and the reward after the challenges is enormous.

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Emefiele words:

“I understand the agitation and I’m begging in God’s name, we are on our knees begging people to please show understanding.
“In our meetings with the banks, we have told them to set up tents and chairs, give people numbers, which I’m sure some people will say it is old fashioned.
“But at this time that we’re trying to get the currency in circulation amongst everybody, people have to have numbers and they come in under a queueing arrangements that when you come in you get served, if it finishes, just be patient.
“By tomorrow, when you come back, they will start from where they stopped, you will not be cheated.
“Let’s just be calm and adopt a good queueing system, the assurance we give is that it will eventually go round

Read also

CBN gives update on PoS charges, says it will work with banks to end cash crunch

Man slumps and dies in the bank after standing for long hours

Meanwhile, in an earlier report, Legit.ng revealed a man has reportedly lost his life after standing in a queue for long hours at a bank in Delta state.

The middle-age-man who lives in was said to have visited the bank to get his ATM for him to make a withdrawal, the Nigerian police confirms.

In the last few weeks, Nigerians have endured long hours of waiting in banking halls and ATMs to make withdrawals.

Source: Legit.ng

Authors:
Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.