Residents of Ilorin, Kwara State capital on Tuesday reacted variously to the Monday directive of the Central Bank of Nigeria (CBN) asking commercial banks
While the majority of the residents described the directive as a good development, others said it will only impact positively if effective and vigorous sensitisation and public enlightenment campaigns are carried out by the CBN to restore the confidence of the people who have been traumatized by the naira crisis.
Musa Ayinla, a lawyer told DAILY POST the situation will improve if commercial banks dispense enough of the old notes to cushion the effects of the hardship Nigerians have gone through over the naira scarcity. A retired civil servant, Shola Adeshina, who also described the announcement as a positive development, urged banks to make the old naira notes available if there are not enough new notes for circulation.
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