Nigerians find themselves grappling with a renewed bout of Naira scarcity, echoing the challenges faced just a year ago, with citizens voicing their frustrations about the dwindling availability of the national currency.
This resurgence follows the Naira redesign policy instituted by the Central Bank of Nigeria (CBN) from December 2022 to February 2023. The cash shortage, initially slated to be resolved by December 31, 2023, faced a sudden turnaround after the federal government, in a surprising move, revoked the deadline extension that was granted by the Supreme Court.
As Christmas and New Year festivities approach, the shortage of Naira notes has intensified, leaving many Nigerians grappling with uncertainties.
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Nigerians, who endured a similar ordeal in 2022, are now questioning the sustainability of the current monetary policies.