Federal Government Reveals When Naira Scarcity in Nigeria Will End

The Federal Government has revealed when the Naira scarcity in Nigeria will end.

Newsone Nigeria reports that President Bola Ahmed Tinubu‘s led Federal Government on Thursday, December 21, apologised to Nigerians over the current scarcity of Naira notes in circulation, saying that it will ease in the coming year.

This online news platform understands that the Minister of Information and National Orientation, Mohammed Idris said the scarcity was not deliberate.

The Minister, who briefed the media on the achievement of the Bola Tinubu Administration, also assured Nigerians that there will be more cash in circulation in the New Year.

Idris said the Central Bank of Nigeria is doing everything possible to address the situation.

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.”