Naira scarcity: Buhari orders return of old N200 notes into circulation
President Muhammadu Buhari on Thursday ordered the Central Bank of Nigeria (CBN) to ensure the return of the old N200 naira note into circulation for a period of 60 days (until April 10) in order to ease the pressure occasioned by the scarcity.
The old N200 notes will be in circulation alongside the new N200, N500, N1,000 till April 10, as the old N500 and N1,000 are no longer legal tender.
President Buhari made the disclosure in a nationwide broadcast, even as he vowed to visit commercial banks hoarding and derailing the cashless policy project with the full weight of the law.
The President further revealed that about N2.4 trillion has been mopped up out of the N3.2 trillion currency in circulation.
(SUN)
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