The Central Bank of Nigeria (CBN) has recently addressed concerns about a shortage of printing materials, which were circulating among the public. The CBN issued an official statement to dispel these rumours and clarify the situation.

According to the CBN, there is no shortage of printing materials and they have made sure to keep sufficient stocks of all the necessary supplies. The bank also assured the public that they are taking all necessary measures to ensure the smooth functioning of all banking operations.

Moreover, the CBN also debunked rumours about plans to shut down any banks. The statement emphasized that the CBN is committed to maintaining a stable and secure banking sector in the country and has no plans to close any banks. Instead, the CBN will continue to support and regulate the banking sector to ensure its stability and efficiency.

“For the records, what Mr Emefiele told the meeting was that the NSPMC was working on printing all denominations of the Naira to meet the transaction needs of Nigerians.

“While the CBN appreciates the concerns shown by all stakeholders about the distribution of the Naira, we are alarmed at the extent to which vested interests are attempting to manipulate facts and pitch the public against the Bank”.

“We wish to state unequivocally that there is no such plan and that the claims are illogical and do not comply with the workings of the Nigerian banking system. The public is therefore advised to ignore such recordings as they do not represent the policy thrust of the CBN and are only the desperate attempts of persons bent on inciting the public against the bank”.

In conclusion, the CBN’s statement aimed to dispel any confusion or fear among the public and assure them that there are no issues with the availability of printing materials or plans to shut down any banks. The CBN remains dedicated to promoting a strong and stable financial system in Nigeria.