Naira crisis: CBN recirculates mutilated old N200 notes
The Central Bank of Nigeria (CBN), says it has released more N200 notes to banks to dispense to members of the public, while silent on how much of the N200 banknotes it released.
It was gathered that, most of the N200 released to the banks are old mutilated notes collected from the public at the peak of the cash swap programme.
A staff of the CBN told the newsmen that the volume of N200 notes in circulation has increased following last week’s directive by President Muhammadu Buhari that the banknote be re-circulated.
The staff, who refused to be named because he is not authorised to speak, said “both old and new N200 notes were released into the system over the weekend.
He said the CBN branches across the States “received the banknotes over the weekend and by Monday morning had started releasing them to the commercial banks”.
He insisted the banks have received enough N200 notes to dispense through their ATMs, while he refused to mention the exact amount released to the banks for one to determine if that was enough.
Meanwhile, many banks at Garki Areas 7 and 8 Abuja attracted large crowds waiting to use the ATMs.
