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Jonathan Nwokpor
December 22, 2023
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Naira scarcity: CBN reveals those hoarding banknotes

A few days before Christmas, the Central Bank of Nigeria, CBN, warned Point-of-Sale operators and Deposit Money Banks not to stockpile Naira notes due to the ongoing scarcity of the

Business

Jonathan Nwokpor
December 19, 2023
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Fears about banks’ declining deposit levels rise as Naira becomes scarce

Due to a lack of cash, the Standing Deposit Facility of Nigerian banks decreased by 18%, from N2.94 trillion in October to N2.4 trillion in November. Additionally, the country’s financial