Banks hoarding new naira notes should be probed – CAN

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In a statement issued by the CAN chairman, Rev. John Hayab, on Sunday, February 5, the association lauded President Muhammadu Buhari for insisting that the 2023 general elections would be devoid of vote-buying.

The association also commended Buhari for extending the swap of the old naira notes by 10 days.

CAN called on the Central Bank of Nigeria (CBN) to do everything possible within its power to ensure that the new notes circulate well to end the stress being faced by the Nigerian masses in accessing them.

Part of the statement read: “Notwithstanding CAN believes that despite the temporary pains Nigerians face, the citizenry is prepared to support the President on the matter of the deadline, especially if it would assist to ease the tension in the country.

“Therefore, managers of banks who are found to hoard the new naira notes to create artificial scarcity, but are behind the public arena helping money-bag politicians to get the new notes, set the public up against the CBN’s new policy; such banks and bankers should be investigated, and if found culpable, be made to face the wrath of the law.

“Nigerian citizens are yearning for the best and should not be made to suffer more hardships. Accordingly, CAN will continue to sensitise and mobilise our faithful to support any programme which its results could bring about good service delivery for a better nation.”

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