Gov Abiodun, CBN Strategize to End Naira Scarcity
Ogun state controller of the Central Bank of Nigeria (CBN) Mr. Wahab Oseni has given an assurance of the availability of enough cash to disburse to all commercial banks in the state.
The CBN Branch Controller gave the assurance during the Ogun state governor’s, Mr. Dapo Abiodun unscheduled visit to the Abeokuta branch of the bank to find out the main cause of the lingering naira scarcity.
Mr. Oseni revealed that measures had been introduced to monitor the compliance of the commercial banks with the disbursement ratio of 40% cash to money agents, 30% across the counter and 30% through the Automatic Teller Machine.
While mentioning the inclusion of Microfinance banks in the state to also benefit from the cash disbursement plan across the country, he gave a positive assurance that the situation would improve from today, Tuesday 7th February.
In a response, Governor Dapo Abiodun promised that members of his cabinet would be involved in the monitoring of the cash disbursement to prevent commercial banks or their agents from hoarding the new naira notes.
Governor Abiodun also appealed to residents, especially the youths to avoid any form of civil unrest, noting that such actions would amount to shutting down the economy of the state and could make things more difficult.
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