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Naira Redesign Policy: Focus On Implications On Businesses, Financial Sector

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The frustration of customers sleeping outside banks to get cash is still very prominent across the country despite Central Bank directives to commercial banks to release old naira notes back into the banking system.
The apex bank also directed banks to load their ATMs and conduct physical operations to ease the monthslong cash crunch that plunged the economy into financial disarray.
Data from the Nigeria Inter-Bank Settlement System indicates that usage of electronic payment systems rose by 30.80per cent to N51.84 trillion in March 2023, from N39.63 trillion recorded in the previous month.

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