Kogi Protest: CBN promises to supply new notes to banks
The Central Bank of Nigeria (CBN) on Thursday pledged to supply commercial banks with enough funds to address the new naira notes scarcity in Kogi
Ahmed Sule, Kogi CBN Branch Controller, made the pledge while speaking to journalists in his office in Lokoja.
Protesters had on Wednesday picketed some commercial banks over alleged non compliance with the CBN’s directive to make the new notes available to citizens across the country.
The branch controller, who admitted that the scarcity of the new naira might have resulted in some banks not opening for customers on Wednesday and Thursday, expressed worry over the attitude of some banks in dispensing the mints.
“I wish to announce to you that we are expecting our stock of the New Naira notes very soon for distribution to the commercial banks operating here in Kogi.
“We are aware of the difficult times our fellow citizens are in right now, and we expect the banks to help ameliorate the people’s sufferings by dispensing as we so directed them.
“We will soon invite them (banks) to come for their allocations as we are expecting it today, being Thursday.
“What we give the banks is weekly allocations, and a very substantial one for the week, ” he disclosed.
Mr Sule advised the banks to stick to the instructions of dispensing N20, 000 over the counter or Automated Teller Machines (ATMs) to help ameliorate people’s sufferings.
He warned that any erring bank would face the wrath of the apex bank, which he said meant well for the economic transformation of the country as regards the redesigned naira policy.
A check at the banks, which were picketed on Wednesday, showed only Access bank and Unity bank opened for businesses for their customers.
One of Union Bank officials, who spoke in anonymity, said that there was no point opening for customers when there was no funds.
“As early as 6.00 a.m., we rushed to the CBN office with the hope of getting our allocation but we couldn’t get it.
“We don’t manufacture or print money here, so we can’t open to customers. What we are doing is assisting those who want to transfer funds by giving them the forms to fill and then we transfer the funds,” she explained.
Nevertheless, as at the time of filing this report, gates of Union, Zenith, GTB and First Banks remained closed to customers as their ATMs were not dispensing cash.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Olubadan lauds Tinubu on release of Oriire kidnap victims, urges rehabilitation
“As a follow-up to this development, the government must ensure that all communities bordering the National Park are fully secure,” he said.
Heading 1
Iran’s new supreme leader vows revenge over father’s assassination by U.S.-Israeli forces
“We pledge to avenge the blood of the martyred leader and all the martyrs of these two wars from the criminal and disgraced killers,” he said.
Heading 4
Trump administration subpoenas New York Times journalists over Air Force One story
The subpoenas seek to compel the reporters to testify before a federal grand jury in Manhattan.
Heading 2
Klopp agrees to replace Nagelsmann as Germany coach
Nagelsmann resigned last week as the men’s national team coach following Germany’s shocking exit from the 2026 FIFA World Cup.
Health
FG expands cancer funding, local drug production
“We are trying to domesticate expensive treatments by producing much-needed medicines locally and translating global research into action in our clinics,” he said.
Heading 3
Remi Tinubu begs Asake, Davido, Burna Boy to come rescue poor Nigerians from hunger
The first lady stated that buying exotic cars is good, but noted that the singers can still establish foundations to assist the struggling population.
