Facing the frustrating impact of naira scarcity, Nigerians received assurances from the government on Thursday, as Information Minister Mohammed Idris acknowledged the hardship and promised improvement in the coming year.
During a briefing on the achievements of President Bola Tinubu’s administration, Idris addressed the widespread concerns over limited cash availability, emphasizing that it was not intended to punish citizens. Instead, he attributed the scarcity to “a process perhaps that the CBN is undertaking that has created a temporary shortfall.” The minister expressed regret and issued an apology to Nigerians regarding the prevailing scarcity of Naira notes in circulation, assuring citizens that relief is anticipated in the forthcoming year.
The minister stated, “About naira scarcity, our government is aware that there is this cry by Nigerians about the scarcity of Naira notes, and CBN is already working in that direction. New notes and more will be produced, and Nigerians will have more Naira to spend.
“It is not a deliberate policy to stifle Nigerians or to take Naira out of Nigerians during the Godwin Emefiele days. That is not the case. It is a process perhaps that the CBN is undertaking that has created a temporary shortfall, and we are hoping that as we go into the New Year, we’ll see a more robust supply of the Naira notes.”
