Naira Crisis: Emefiele laments bitterly, reveals why currency redesign policy is failing

  • The governor of the Central Bank of Nigeria has finally spoken regarding the scarcity of the new naira notes
  • Godwin Emefiele disclosed in a recent meeting that the CBN does not have the capacity to print sufficient notes
  • Meanwhile, following the February 10th deadline, filling stations and most business outlets have started rejecting the old naira notes

As naira scarcity bites harder, the governor of the Central Bank of Nigeria (CBN) has said the apex bank does not have the capacity to print adequate new naira notes.

Godwin Emefiele made the disclosure on Friday, February 10th, when he briefed the emergency meeting of the National Council of State, sources who attended the meeting told PREMIUM TIMES.