The Central Bank of Nigeria (CBN) has been urged by Osun State Governor Ademola Adeleke to punish financial institutions that are hoarding the new Naira and make sure that they are available to the general public.
He cautioned CBN against taking the patience of the Osun people for granted by revealing how much the state had been giving up to soothe strained nerves. In his office yesterday, he spoke with CBN officials and made these comments.
The governor lamented the growing shortage of the new notes in a statement released through his spokesperson, Olawale Rasheed, and explained that he had been using the state’s network to ease tension and secure the security of banks and the CBN headquarters in the state.
Adeleke expressed displeasure at the current suffering being experienced by the populace and claimed that his involvement in recent weeks protected Osun from the crises seen in some South West states.
He explained to the apex bank officials: “The situation is getting out of hand. The CBN must act fast. Any bank hoarding the new notes must be sanctioned. We should not treat such banks with kid gloves.”
“My people are patient, but we should not take their patience for granted. That is why I called for this meeting. Why can’t I find the new notes? Is the supply small or inadequate?”
He stated that his government was ready to work with CBN on the currency swap.
“The new notes are not available. Even as a state governor, I don’t have the new notes. We should not overstretch the cooperation we are enjoying from the citizenry. We are expected, as elected and appointed leaders, to respond to the needs and aspirations of our people,” Adeleke admonished.
In response, Oluyemi Adeyemi, the state’s CBN director, praised the governor for taking preventative measures that prevented disturbances due to the naira.
“We must thank the Governor for reaching out to the people, for diffusing tension, for keeping the state peaceful. We aware of the day the Governor stopped some angry youth from demonstrating and from attacking the CBN office.”
“On our part, we are working hard to make the new notes available. Let me say that the CBN has issued queries to some banks. I assure Nigerians that we are working hard to make the new notes available,” the CBN official confirmed.
The conference established a monitoring system between the state government and the CBN to make sure that the public received the new notes that were allocated.
