Find out more as CBN gives real reason N100, N200 notes are scarce nationwide

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CBN Governor Olayemi Cardoso spoke after the MPC meeting in Abuja on Tuesday about the scarcity of lower-denomination notesCardoso linked the declining circulation of N100 and N200 notes to rising digital payments and weakening purchasing powerThe CBN governor also addressed the IMF’s assessment that the naira is undervalued and reaffirmed the bank’s single-digit inflation target

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has said the growing scarcity of N100 and N200 notes is the result of more Nigerians switching to digital payments and the declining everyday usefulness of low-value currency.

Cardoso made the remarks after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, where he also reassured Nigerians that neither denomination has been removed from circulation.

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