The Central Bank of Nigeria (CBN) has confirmed it has released more N200 notes to banks to dispense to members of the public.

But the apex bank was silent on how much of the N200 banknotes it released.

However, most of the N200 released to the banks are old mutilated notes collected from the public at the peak of the cash swap programme.

A staff of the CBN said the volume of N200 notes in circulation has increased following last week’s directive by President Muhammadu Buhari that the banknote be re-circulated.

The staff, who refused to be named because he is not authorised to speak, said “both old and new N200 notes were released into the system over the weekend.”

He said the CBN branches across the States “received the banknotes over the weekend and by Monday morning had started releasing them to the commercial banks.”

He insisted the banks have received enough N200 notes to dispense through their ATMs.

He refused to mention the exact amount released to the banks for one to determine if that was enough.

Another staff of the CBN said, “There are more N200 notes in circulation now than there was last week.”

Members of the public, he said, “will start seeing the N200 in a couple of days in both old and new forms because the banks have been adequately fed with the banknotes and they are expected to dispense them to the public”.

Many banks at Garki Areas 7 and 8 Abuja attracted large crowds waiting to use the ATMs. (The Nation)

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