Emefiele’s new notes missing as tattered, dirty old notes flood banks
Ever since the Central Bank of Nigeria (CBN) announced that its treasuries have been thrown open for commercial banks to empty for dispensing to customers, majority of notes in circulation had been tattered, dirty and patched old N1,000 notes.
Investigations suggest that either the apex bank never printed enough new notes or it is gradually withdrawing new notes.
Otherwise, there has been massive decline in the circulation of new naira notes as the CBN pumps more old notes into circulation
Already, some bank officials have been quoted as saying that they have not received new notes in the last month.
A report says the CBN may begin the enforcement of eNaira notes as it begins to train PoS operators in its use.
Besides, whereas there has been a high level of cash saturation at city centres and areas like inside Lagos Island, Victoria Island and Ikoyi, cash scarcity has continued to frustrate business activities at areas far from city centres in Lagos and other states.
