The Central Bank of Nigeria has instructed all its branches nationwide to continue issuing various denominations of both old and redesigned banknotes in ample quantities to deposit money banks.
The apex bank disclosed this in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, and posted on its X handle on Wednesday.
Punch gathered that this comes in response to reports of cash shortages in major cities, despite earlier assurances from the CBN about sufficient cash availability nationwide.
According to the statement, the apex bank instructed its branches across the country to continue to issue different denominations of old and redesigned banknotes in adequate quantities to Deposit Money Banks for onward circulation to bank customers.
It further stated that all denominations of banknotes issued by the CBN remain legal tender in line with Section 20(5) of the CBN Act, 2007.