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New Naira: We Have Gotten Confirmation From Banks On The Reason For The Scarcity – Governor Badaru


The Governor of Jigawa State, Muhammad Badaru Abubakar has berated the Central Bank of Nigeria (CBN) over the persistent scarcity of the new naira notes in commercial banks.

Badaru alleged that the CBN was hoarding the new notes and subsequently causing unnecessary hardship to the citizenry .

Speaking via a statement by the State commissioner for finance, Babangida Umar Gantsa, the governor said that they had confirmed from bank managers that CBN was not giving them money.

He said: “We even spoke with bank managers and they confirmed that the CBN is not giving them enough money.

“One manager of a bank told us that the CBN gave him only N2million

“In one particular ATM, I counted over 250 people, people are sleeping there and some are spending hours of their work just to withdraw money for their needs. The banks are not loading enough money in their ATMs because the CBN is also not giving them money.

“I think the CBN is not ready for this exercise. They should go back to the drawing board and do the needful to ease the suffering of the common man.”

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Babangida added that, “even the naira swap and ten days extension announced by the CBN is going to be defeated.”

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