Despite Emefiele’s Incarceration, Nigerians laments Naira Scarcity Nation Wide.


As witnessed recently the scarcity of the Naira. Nigerians have gone on various social media platforms to lament on the high rate of Naira scarcity in the country.

The naira scarcity comes approximately 12 months after Nigerians went through the same ordeal in 2022.

The Naira redesigning policy which was objected by some politicians, attributed the scarcity to the former CBN Governor, Godwin Emefiele as the mastermind as he was accused of political sentiments on the policy which caused the Naira Scarcity.

Recall that owing to the Naira redesign policy implemented by the CBN between December 2022 and February 2023, a cash shortage surfaced until the Supreme Court extended the deadline to December 31, 2023.

However, this extension was later revoked at the request of the federal government.

As the Christmas and New Year festivities get closer, Nigerians are once more going through the hurdle of the Naira notes shortage.

It is a known fact that some Banks don’t have enough cash to pay to their customers and many Automated Teller Machines of Deposit Money Banks in many parts of the country are either not dispensing cash or are witnessing long queues.

This situation has resulted in a nationwide outcry from Nigerians who condemned the situation while also seeking an urgent intervention by the federal government.