Newspaper Headlines: CBN yet to release old naira notes as banks ration cash

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Newspaper Headlines: CBN yet to release old naira notes as banks ration cash

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March 15, 2023

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Reports on the ration of old naira notes by commercial banks amid a scarcity of the currency dominated the cover pages of Nigerian newspapers.

The Punch says banks have commenced rationing the disbursements of old N1,000 and N500 notes to their customers amid uncertainty over the release of old notes by the Central Bank of Nigeria (CBN). The newspaper reports that the Independent National Electoral Commission (INEC) has promised to prosecute electoral offenders with speed.

The Nation says banks have limited customers to N20,000 cash withdrawals over the counter amid a shortage of naira notes. The newspaper reports that the International Air Transport Association (IATA) has disclosed that foreign airlines’ funds trapped in Nigeria have risen to $743 million from $662 million.

Daily Trust reports that the CBN is yet to release old naira notes to banks. The federal government disclosed that 12.9 million cyberattacks were recorded during the February 25 presidential and national assembly elections, the newspaper says.

The Guardian reports that the silence of the CBN on the trillions of naira it mopped up continues to cast doubt on the possibility of achieving sufficient naira circulation. The newspaper says INEC has warned against violence during the March 18 governorship and house of assembly elections.

Daily Sun reports that Ohanaeze Ndigbo has called on the federal government and security agencies to arrest and prosecute those threatening and intimidating Igbo living in Lagos and Rivers states ahead of Saturday’s elections.

Source: Top Stories