UPDATE: Naira Scarcity Returns Under Cardoso’s Leadership

UPDATE: Naira Scarcity Returns Under Cardoso’s Leadership

by Victor Ndubuisi
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Similar to the difficulties encountered a year ago, Nigerians are currently dealing with a fresh wave of Naira scarcity, with the populace lamenting the declining quantity of the country’s currency.

This recovery is in line with the Central Bank of Nigeria’s (CBN) December 2022–February 2023 Naira redesign policy. The financial crisis was supposed to be rectified by December 31, 2023, but things took an unexpected turn when the federal government cancelled the deadline extension that the Supreme Court had granted.

Scarcity of New Naira Notes: Emefiele Reveals Those Responsible

The lack of Naira notes has gotten worse as Christmas and New Year’s celebrations draw near, leaving many Nigerians anxious.

Following a similar experience in 2022, Nigerians are increasingly doubting the long-term viability of the country’s present monetary policy.

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