Senator Bala Abdulkadir Mohammed, the Governor of Bauchi State has decried untold hardships of his subjects as a result of the scarcity of naira notes crippling businesses across the country.
He urged the federal government and the Central Bank of Nigeria (CBN) to provide measures that would reduce the sufferings faced by citizens in getting the new notes.
“Have compassion for the poor, have compassion for the community,” the governor stated on his Facebook handle on Thursday.
“With this, I am calling on the federal government and the central bank of Nigeria to provide ways to facilitate the provision of funds to banks and the community to enable them to carry on with their day-to-day operations,” he added.
Bala also urged the security agencies to monitor bank officials and POS operators who hoard and sell the new notes, thereby exacerbating people’s suffering.
“We call on the security agencies to monitor and punish bank officials and POS operators who hide new currency notes or sell them because this violates the provisions of the constitution and infringes the social laws,” said Bala.
WikkiTimes had reported that residents of Bauchi suffered untold hardships in getting the new notes from their various banks.
In October last year, CBN revealed its plan to redesign the N200, N500 and N1,000 notes, adding that the old ones would not be accepted as legal tender after the expiration of the dateline. However, the apex bank extended the deadline by 10 more days.
Last week, the CBN Governor, Godwin Emefiele, at a meeting with an ad-hoc committee on the review of the apex bank cashless policy and currency swap reiterates that the old series of the notes will lose legal tender status after February 10, 2023.
On Thursday CBN insisted that it is committed to ensuring that the new notes reach the hands of Nigerians as soon as possible. In collaboration with the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practice Commission (ICPC), CBN has been carrying out Banks’ Branch Spot-Checks on ATMs to tackle violations of the processes.