The Central Bank of Nigeria on Thursday debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
In a statement by its spokesman, Isa AbdulMumin, the CBN blamed some customers for panic withdrawal using the Automated Teller Machines (ATMs).
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
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CBN also advised the citizens to embrace alternative modes of payment, which it noted would reduce pressure on using physical cash.
From late last year to early this year, the country suffered a cash crunch owing to the introduction of a cash redesign policy.
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