Thursday, July 16, 2026

Naira Scarcity: CIBN sues for calm, reassures banks will remain open

• February 18, 2023
Chartered Institute of Bankers of Nigeria (CIBN)
Chartered Institute of Bankers of Nigeria (CIBN)

The Chartered Institute of Bankers of Nigeria (CIBN) said it was liaising with the Body of Banks CEOs to address the current challenges caused by the scarcity of the redesigned banknotes.

Ken Opara, the president/chairman of council, CIBN, said this in a statement on Saturday in Lagos.

He said that the banks would remain open to serve the public as long as it was safe. He added that the safety and security of bank staff were paramount.

“Hence, where there is a security challenge, the management of banks have been empowered to take proactive measures to close their operations in such location and inform the Central Bank of Nigeria.

“Therefore, the safety concerns being expressed in various quarters are already being addressed.

“Banks will continue to ensure that adequate security measures are in place to protect staff and customers whilst safeguarding their assets in contending with the current challenge,” Mr Opara said.

He appealed to the general public to remain calm and eschew any act of violence, adding that the banking industry remained resolute and committed to finding ways to address all the related issues.

“We indeed appreciate your continued patience and understanding as we work together towards restoring normalcy,” he said.

Alleged customers have attacked many commercial banks, with protests recorded in different states across the country over the scarcity of the redesigned denominated banknotes. 

(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

farmers

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

Katsina State

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.”

Heading 1

20,000 pigs killed in Canada wildland fires

The fire incident at the farm occurred as 200 separate wildfires were burning across different parts of Ontario, prompting evacuation of residents.

LEGISLATIVE GAVEL

States

Court remands Anambra teenager over alleged defilement

The teenager faces a one-count charge of defilement.

States

Yobe woos 50 foreign, local investors 

Mr Chikaji said, “Yobe is open for business, not just in aspiration but in practice.”

Vice-President Kashim Shettima

Opinion

Azu Ishiekwene: Shettima’s final test

Vice-President Kashim Shettima cannot be blamed for having doubts about whether President Bola Ahmed Tinubu would renominate him as his running mate for a second term.

Bola Tinubu and Femi Gbajabiamila

Anti-Corruption

Presidency memo justifies Gbajabiamila’s role in NUPRC N54 billion revenue controversy

But the memo defended the chief of staff, asserting that Mr Gbajabiamila was acting under Mr Tinubu’s orders.

ROHINGYA REFUGEES

World

UN says over 500 Rohingya refugees feared dead after two ships sink off Myanmar coast

A second boat, reportedly carrying about 280 people, is believed to have sunk off Myanmar’s Ayeyarwady coast on July 8.