Naira Scarcity: Banks Will Soon Restore Sanity – CIBN

Posted by Nwa Diokpa Latest Headlines, News Across Nigeria Monday, February 13th, 2023

(AFRICAN EXAMINER) – The Chartered Institute of Bankers of Nigeria, CIBN, has stated that the banking industry in the country is strong, focused and committed to resolving the naira scarcity in the country.

A statement issued by Dr Ken Opara, the President of CIBN on Monday, announced that the industry has resolved to restore normalcy in the system.

Opara said: “We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited. This has also been debunked by the Nigeria Security Printing and Minting (NSPM) Company, which described the story as false, baseless and misleading.

“NSPM has assured that it has made adequate arrangements to produce redesigned naira notes as well as other denominations continuously.

“We implore the public to disregard any contrary information as the banking community remains focused and committed.

“The industry is working round the clock to address all contending issues to restore normalcy. We indeed appreciate your continued patience and understanding as we work together toward building the Nigeria of our dream.”