Borno State Governor, Babagana Zulum, has mandated that any bank that refuses to dispense new naira notes through ATMs and banking halls have their land withdrawn by the state government.
Zulum gave the directive on Friday afternoon in Maiduguri after visiting bank branches to assess the difficulties residents were experiencing in accessing fresh naira notes via long queues at ATMs amid extreme shortages and pessimism.
The governor who asked the Central Bank of Nigeria (CBN) to ensure the availability of new notes at commercial banks for customers to access their money expressed concern that “many individuals are believed to be here since 3am, some could not even eat anything. The new naira note, as well as the old ones, are not accessible, which is impacting business activity in the state and causing people to suffer”.
“Any bank in Borno State that is not willing to ensure their ATMs are fully dispensing new naira notes cash to ease the suffering of our people, we will withdraw their land title immediately. We will only spare Banks with genuine constraints that are verifiable,”
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“We just released salaries of about 5 billion naira and the banks don’t have money, some of the ATMs are not working. We don’t have any problem with the CBN policy or the withdrawal limit, they said individuals can only withdraw N20,000, but why can’t everyone have access to that N20,000?” he asked.
“Yesterday I was in Gubio with a population of over 70,000 people but it was impossible to source N100,000 in the entire local government, neither of the new note nor the old notes. A ram that is worth N100,000 is now being sold for N35,000 because people are desperate for cash, and some wicked rich people are going to rural areas to exploit poor people,” Zulum noted.
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