CBN disburses N237bn banknotes to merchants, others in 2019

CIC

The Central Bank of Nigeria (CBN) disbursed lower denomination banknotes worth N237.14 billion to microfinance banks (mfbs), merchants, shopping malls, market associations among others in 2019, to increase the circulation of such notes in the country. The apex bank disclosed this in its 2019 annual report released yesterday. The report stated:”In a bid to increase the circulation of lower denomination banknotes in the country, the Bank continued its direct disbursement of banknotes to microfinance banks, merchants, shopping malls, market associations, toll gates, among others. “A total disbursement of N7.72 billion…

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