CBN

Juliana Francis

The Central Bank of Nigeria (CBN) has instructed commercial banks to immediately collect the old Naira notes, which it has deposited in CBN, promising that before the end of the week, the nation would be awash with more Naira notes, said a source.

This latest move and instruction from the Apex bank came hours after the Nigeria Labour Congress (NLC) directed all workers to protest at all the offices of the CBN nationwide starting next week over the current Naira scarcity in the country.

A source in the CBN said: “The CBN said banks have been instructed to collect the old Naira noted they deposited in CBN and that before the end of the week, the country would be awash with Naira notes.

The NLC President, Joe Ajaero, who met with journalists today, had threatened that the mobilisation for the occupy CBN nationwide would commence by Friday, followed by a total shutdown of economic activities across the nation, which will begin next Wednesday.

Earlier, 13th of March, the NLC issued a one-week ultimatum to the Federal Government of Nigeria, urging that steps must be taken to cushion the effect of the Naira scarcity in Nigeria. But the ultimatum passed without any action taken by the government or CBN.

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