DAILY POST
The Central Bank of Nigeria, CBN, has attributed the scarcity of the new naira to the hoarding of the notes by Nigerians.
CBN’s Director of Consumer Protection, Mrs Rashidat Mongunu, said this on Thursday while monitoring microfinance banks in Offa, Offa Local Government Area of Kwara.
The monitoring team, as reported by NAN, first paid homage to the Olofa of Offa, Oba Mufutau Gbadamosi, before heading to Stockcorp Microfinance and Ibolo Microfinance banks.
The CBN director asserted that the redesigned notes were made available in the right quantity by the CBN, but those hoarding the notes are to blame for currency scarcity which is further worsened by the sheer number of people thronging banks to collect money almost at the same time.
“Because of the attitude of some Nigerians in hoarding the money, even those that don’t really need the money are rushing to get it and keep it, not to spend,” she said.
