Mr Makinde said this is the third week of the monitoring exercise in the state in an effort of the CBN to ensure compliance with its directives on the issuance of new notes.
The political bigwigs believed that the CBN president was hoarding the new notes to scuttle the general elections. “This is the third week of ensuring strict implementation of our directive as regards the issuance of new notes. We have banks, agents and super agents circulate new notes in the economy. The experience has been mixed, we saw some trying to hoard new notes, we compelled them to upload into ATM terminals, and others had poor cash management.
“We came across instances of sabotage on the part of operators, we will take the case up and they will be dealt with appropriately.” We have given a directive that they shouldn’t pay out new notes via the counter but other notes, some of them did that and ran out of cash. Some of the branches deployed resourceful cash management skills and they never ran out of cash while others experience cash run out and are still waiting for their source.
It's a shame that news outlets are reporting this rubbish!!! What is N4 million in one bank branch in a state that has over 15 bank branches? I expect the reporter to ask cenbank how much they gave to each bank before talking about 4 million in one branch. Nonsense
Sanction the bank immediately. They are saboteurs.
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