The Central Bank of Nigeria (CBN) has directed all its branches nationwide to continue issuing various denominations of old and redesigned banknotes in ample quantities to deposit money.
The apex bank disclosed this in a statement signed by its Director of Corporate Communications, Isa Abdulmumin, and posted on its X handle.
This comes in response to reports of cash shortages in major cities, despite earlier assurances from the CBN about sufficient cash availability nationwide.
The apex bank also maintained that every banknote it has issued remains legal tender and should not be rejected by anyone.
The statement cautioned against panic withdrawals and advised members of the public to continue to embrace alternative modes of payment to reduce the pressure on using physical cash.
