Amid the uncertainties being faced by Nigerians due to the scarcity of the redesigned Naira notes, the nation’s inflation rate rose in February.
Inflation rose to 21.91 per cent in February compared to 21.82 per cent in January, the National Bureau of Statistics announced Wednesday.
The statistics office said the February inflation rate showed an increase of 0.09 per cent points when compared to January’s headline inflation rate.
In recent months, Nigerians have faced an unprecedented cash crunch as a result of the naira redesign policy of the Central Bank of Nigeria (CBN).
The crisis has plunged many citizens into hardship, with numerous others finding it extremely difficult to meet their daily needs.
Earlier in March, the Supreme Court ruled that the CBN must extend the use of old banknotes until 31 December due to the negative impact of the policy.
A seven-member panel of the court, led by John Okoro, unanimously ordered the CBN to continue receiving the old notes…
