Nigeria’s president Muhammadu Buhari blames unethical commercials banks officials for the Naira scarcity in the country and ordered the Central Bank of the country to extend the use of old N200 notes to 10th April 2023.
The president disclose this on Thursday morning, stating that the naira scarcity being suffered by Nigerians is the fault of ‘unscrupulous officials’ in the banking industry, entrusted with the process of implementing the new monetary policy.
The President said he is deeply pained by the unintended outcomes of activities caused by banking staff.
Buhari directed the CBN to ensure that old N200 notes are released back into the economy and allowed to circulate as legal tender along the new N200, N500, and N1000 banknotes until the new deadline elapses.