The Central Bank of Nigeria (CBN)’s cash swap programme with the Deposit Money Banks (DMBs) has suffered a setback due to scarcity of the new Naira notes.
The CBN had announced its intention to partner with some commercial banks, Super Agents, Mobile Money Operators and Point of Sale (PoS) merchants to increase circulation of the new Naira notes.
The apex bank said the PoS operators would receive the new banknotes from their designated commercial banks in exchange for the old naira notes from residents in areas outside Lagos and Abuja.
