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Naira Scarcity: FG Not Deliberately Stifling Nigerians, Says Minister

The minister gave an assurance that the Central Bank of Nigeria was working to make new notes available to the public for spending.


A vendor holds banknotes rejected by traders at Awgbu market in Anambra State, southeast Nigeria, on February 17, 2023.
File: A vendor holds old banknotes at Awgbu market in Anambra State, southeast Nigeria, on February 17, 2023. (Photo by PIUS UTOMI EKPEI / AFP)

 

The Federal Government on Thursday apologised to Nigerians over the current scarcity of the Naira, assuring that it was not an attempt at restraining the populace from accessing cash.

The Minister of Information and National Orientation, Mohammed Idris, made this disclosure during a media briefing on President Bola Tinubu’s administration’s achievements in Abuja.

The minister gave an assurance that the Central Bank of Nigeria was working to make new notes available to the public for spending.

“The government is aware that there is this cry by Nigerians of the scarcity of Naira notes and CBN is already working in that direction and new notes and more and new notes will be produced,” Idris said

“And Nigerians will have more money to spend..”

“It is not a deliberate policy to stifle Nigerians or take Naira out of Nigerians like during the Emiefele days.”

He said the Tinubu administration is optimistic that necessary steps have been taken to ensure Nigerians experience a better year in 2024.