Debunking Myths: Naira Scarcity Not Intended To Harm Nigerians, Says Minister.
Nigerians facing the frustrating bite of naira scarcity received assurances from the government Thursday, with Information Minister Mohammed Idris acknowledging the hardship and promising improvement in the new year.
In a briefing on President Bola Tinubu’s administration’s achievements, Idris addressed the widespread cry over limited cash availability, stressing that it wasn’t intended to punish citizens. Rather, 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 said: “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 nodes.”