CBN PLANS TO SHUT DOWN BANKS

 

• Naira scarcity: No plan to shut down banks – CBN

Godwin Emefiele, CBN Governor

By Nwafor Sunday

The Central Bank of Nigeria, CBN, has debunked alleged threat to shut down some deposit banks, over naira scarcity.

Disclosing this in a statement signed by Osita Nwanisobi, Director, Corporate Communications, CBN stated that there was no such plan, noting that the claims are illogical and do not comply with the workings of the Nigerian banking system.

The statement reads thus: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a misleading report misquoting the Governor, Mr. Godwin Emefiele, as attributing the current challenge in the distribution of the newly redesigned naira banknotes to a shortage of printing materials at the Nigerian Security Printing and Minting Company Plc.