Gov  Masari urges CBN to make naira notes available to commercial banks

From Abdul Ganiyu Katsina.

Katsina State Governor Aminu Bello Masari has urged the Central Bank of Nigeria (CBN) to make more naira notes available to the commercial Banks as a step to address scarcity.

Masari gave the advice when he hosted a joint meeting with officials of commercial Banks operating in the State and the Branch Comptroller of  CBN in the State.

The governor said the policy was good but poorly implemented without taking into cognisance the problems it has generated.

Governor Masari requested the CBN to make the lower denomination of 100,50,20 that have not been redesigned available to the commercial Banks to dispense to people to enable low income earners meet up with their daily needs.

He implored the CBN and commercial Banks to be more proactive in discharging their duties.

Governor Masari observed that the new re-designed Naira notes were not available in the banks which subjected people to untold hardships.

“I am not saying the policy is wrong but l am sure there are ways to implement such policy without it negatively effecting the people,” he said.

Earlier some managers of commercial banks in the State who attended the meeting informed the Governor they were facing paucity of supply of the new currency from CBN.

They complained that they collected last supply from CBN since January. 31, 2023.

Metoric Post reports that many  commercial Banks  said they do not are money to give to their customers. 

The banks also lamented of threats from  customers, which made some of them refusing to open on Wednesday, with the probability of closing down completely for the safety of their staffs

The Comptroller informed the Governor that the State has been having a steady supply of the new currency, but in the last two days, they could not get supplies due to some operational difficulties.