Naira scarcity worsens as currency in circulation drops to N1.54 trillion in 3 months

This has further led to crises across several states with banks getting burnt and other financial products like Automated Teller Machines, (ATMs) getting destroyed.

According to a Central Bank of Nigeria, CBN document which was sighted by The PUNCH, the currency in circulation fell by a whopping 53.3 percent within the period in review thus revealing how much the scarcity has hit millions of Nigerians.

Recall the apex banking regulator had also announced withdrawal limits for bank customers as it aimed to mop up the excess cash in circulation and also, reduce the threatening inflation which has been on a steady rise.