Naira crisis: Emefiele meets bank executives on old N200 notes’ release

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has met with operators of commercial banks, directing them to start implementation of the presidential instruction. Emefiele disclosed this Thursday afternoon at the Presidential Villa, Abuja, after a meeting with President Muhammmadu Buhari and some other stakeholders, including an ad-hoc House of Representatives ad-hoc Committee […]

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has met with operators of commercial banks, directing them to start implementation of the presidential instruction.

Emefiele disclosed this Thursday afternoon at the Presidential Villa, Abuja, after a meeting with President Muhammmadu Buhari and some other stakeholders, including an ad-hoc House of Representatives ad-hoc Committee on Naira Re-design/Cashless Policy and Currency Swap.

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The meeting was held hours after the President informed Nigerians of government’s plan to allow the old N200 denomination to remain legal tender for six more months.

The CBN governor, who said he already met with 15 bank executives on how to ease the cash crisis, assured that the old N200 notes would be made available with immediate effect.

He, therefore, appealed to Nigerians to allow the policy to work, saying it will go a long way to help the nation’s economy.

Emefiele assured that the CBN will continue to do everything possible to ease the sufferings currently being experienced by Nigerians due to the cash crunch.