Ogun gov meets CBN, bankers committee to end naira scarcity

Ogun gov meets CBN, bankers committee to end naira scarcity 

The Governor of Ogun State, Dapo Abiodun, on Monday, visited the Abeokuta branch of the Central Bank of Nigeria to explore possible collaboration to ease the distribution challenge in the amount of money residents of the state could withdraw for transactions made in commercial banks.

To ensure that no commercial bank in the state stashed away the new naira notes, the governor disclosed that members of his executive council would be monitoring the cash distribution to banks.

During a meeting with the management of the CBN led by the Branch Controller, Wahab Oseni, Abiodun expressed disappointment over the continuous rate at which long queues were witnessed at the Automated Teller Machines before residents could withdraw cash.

The governor said it was painful that residents who were lucky to receive cash could not get more than N2000 per transaction.

“I have met with the President and the CBN governor. It is within the rights of the CBN by law and as enshrined in the constitution.

“Our people went out in their numbers but our people who deposited money and felt they would have as much money as they had deposited or need for their daily needs and welfare and wellbeing.

“We’ve had to suspend our campaigns. I met with people over the weekend who said to me that they had not eaten for days, especially, those from the informal sector.

“As a governor, whose primary function is the welfare and security of our people, I need to find out how we can interact with you to see how we can improve on the current level of distribution of the currency in order to diffuse tension.”