CBN Begins Door-to-Door Distribution of New Naira Notes as Cash Shortage Seems Unending
The Central Bank of Nigeria (CBN) has started a door-to-door distribution of the redesigned naira notes.
The move comes amidst a persistent cash shortage in the country, which has left many citizens struggling to get cash for their daily needs.
The CBN hopes that the new method of distributing of the new notes will ease the cash shortage and provide relief to Nigerians who have been hit hard
The Central Bank of Nigeria (CBN) has taken the initiative to distribute the newly redesigned higher denomination naira notes to the doorsteps of residents in Kano state.
The CBN sent representatives to three local governments in Kano (Kibiya, Rano, Tundun Wada).
The scarcity of the new naira notes has lasted for four weeks, causing hardship across the country.
A representative of CBN told journalists that the exercise is aimed at easing the cash shortage in the state and providing residents with the opportunity to exchange their old naira notes for new ones.
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