Cash Shortages: Expect Significant Improvements Between Now And Feb 10 Deadline – Buhari Assures Nigerians

Worried by the shortages of cash and its biting effects on people and businesses across the country, President Muhammadu Buhari has assured Nigerians that his government is doing everything to resolve the issues.

Buhari Assures Nigerians Over Cash Shortages

Buhari gave the assurance in a tweet on his official handle on Friday.

Nigerians have for the past few days, been having a tough time accessing their monies from banks across the country on the account of the naira redesign.

A few days ago, the Central Bank of Nigeria (CBN), announced the extension of the deadline for depositing the old naira notes from January 31st to February 10th.

Since then, Nigerians have been unable to access their funds from banks and ATMs, causing untold hardship and suffering.

Recall that the CBN has continuously claimed that it has released sufficient new Naira notes to commercial banks across the country.

However, commercial banks have maintained that they do not have adequate new notes to issue to their customers, hence, many banks across the country have completely stopped issuing money to their customers with a few of them issuing a maximum of N10,000 or N5,000.

Buhari assured Nigerians should expect significant improvements between now and the February 10 deadline.

According to Buhari, he met with a delegation of governors today, on the matter.

The president noted that all the complaints about the execution of the currency change are being seriously looked into.

He further assured that he will ensure that everything is resolved in a lasting manner, adding that, “we will all enjoy the long-term benefits of the decision.”

Buhari wrote, “I am aware of the cash shortages and hardship being faced by people and businesses, on account of the Naira redesign. I want to assure that we are doing everything to resolve these issues. Nigerians should expect significant improvements between now and the February 10 deadline.

“I met with a delegation of Governors today, on the matter. All the complaints about the execution of the currency change are being seriously looked into. I will ensure that everything is resolved in a lasting manner, and we will all enjoy the long-term benefits of the decision.”

I am aware of the cash shortages and hardship being faced by people and businesses, on account of the Naira redesign. I want to assure that we are doing everything to resolve these issues. Nigerians should expect significant improvements between now and the February 10 deadline.

— Muhammadu Buhari (@MBuhari) February 3, 2023

Meanwhile, Kanyi Daily reported that a woman stripped naked inside a bank in Lagos to express her frustration over the scarcity of Naira notes.