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Cash scarcity: FG apologises to Nigerians, speaks on new development

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The federal government on Thursday apologised to Nigerians over the current cash crunch nationwide, adding that the scarcity will ease in the coming year.

This was disclosed by Mohammed Idris, the Minister of Information and National Orientation, in a statement during a media briefing in Abuja.

According to Idris, the current scarcity of the naira notes is not deliberate. He added that the Central Bank of Nigeria (CBN) is doing everything possible to address the situation.

He emphasised that there will be more cash in circulation in the new year.

The minister said: “About naira scarcity, our government is aware that there is this cry by Nigerians about the scarcity of Naira notes and CBN is already working in that direction. New notes and more will be produced and Nigerians will have more Naira to spend.

“It is not a deliberate policy to stifle Nigerians or to take Naira out of Nigerians during the Godwin Emefiele days. That is not the case.

“It is a process perhaps that the CBN is undertaking that has created a temporary shortfall and we are hoping that as we go into the New Year, we’ll see a more robust supply of the naira nodes.”

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