"We're surprised": Banks explain new naira notes scarcity as CBN releases N701bn

LEGIT NG 

The new naira notes seem to be in limited supply in the country despite only six months left to the deadline Bankers have provided insight into why there are more old notes than new naira notes in circulation Meanwhile, the Central Bank of Nigeria has revealed that the amount of currency in circulation has dropped to N1.6trn.

As the deadline for the use of old naira notes approaches in just six months, Nigerians across the country continue to express their concerns about the scarcity of new naira notes. Legit.ng had earlier reported that the Supreme Court following the intervention of state governors extended the validity of the old naira notes to December 31, 2023.

Banks explain the scarcity of new naira notes 

As of today, Wednesday, April 19th, 2023, it is exactly six months and one week until the expiration of the deadline for the old naira notes…