CBN GIVES REASONS FOR N100, N200 NOTES SCARCITY

The Central Bank of Nigeria (CBN) has said the N100 and N200 notes remain legal tender, dismissing speculation that the denominations have been withdrawn from circulation.

 The CBN Governor Olayemi Cardoso stated this after the Monetary Policy Committee meeting in Abuja on Tuesday.

He attributed the apparent scarcity of the notesto the increased use of digital payment channels and their declining purchasing power, rather than any policy decision by the apex bank.

Cardoso who urged Nigerians to continue to accept the N100 and N200 notes, added that the CBN had not withdrawn any denomination from circulation.

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