Home News Sanction Any Bank Hoarding New Notes – Governor Adeleke Charges CBN

Sanction Any Bank Hoarding New Notes – Governor Adeleke Charges CBN


Governor Adeleke Charges Any Bank That Keeps Fresh Notes CBN
Ademola Adeleke, Governor of Osun State, has warned commercial banks against stockpiling fresh naira notes.
Adeleke further urged Nigeria’s Central Bank (CBN) to penalise financial institutions engaging in such anti-people acts.

The Governor made the remarks while speaking to CBN officials in his office on Monday.

Adeleke lamented the growing scarcity of new notes, noting that he has been using state networks to quell tensions and protect the safety of banks and the CBN state office.

According to the Governor, his involvement in recent weeks has protected Osun State from the growing unrest hitting several South Western states.

The governor’s remarks were contained in a statement released.

Adeleke’s Spokesperson, Malam Olawale Rasheed, on Monday.

“The situation is getting out of hand. The CBN must act fast. Any bank hoarding the new notes must be sanctioned. We should not treat such banks with kid gloves,”

Adeleke said.

“My people are patient but we should not take their patience for granted. That is why I called this meeting. Why are the new notes not available? Is the supply small or inadequate? “,

The Governor queried.

Adeleke expressed the readiness of his government to partner with the CBN for the currency swap, informing the CBN team that the state is sacrificing a lot to maintain peace and calm frayed nerves.

“The new notes are not available. Even as a State Governor, I don’t have the new notes. You can see how hard it is for our people to access the new currency if their Governor is not getting them.

“We should not overstretch the cooperation we are enjoying from the citizenry. We are expected as elected and appointed leaders to respond to the needs and aspirations of our people,”

Governor Adeleke admonished.