FRI. 10 FEB, 2023-theGBJournal| The National Council of State has ordered the Central Bank of Nigeria (CBN) to print more new notes or recirculate the old Naira notes to ease the current hardship facing Nigerians.
The order follows a meeting the Council held today with President Muhammadu Buhari at the State House, Abuja.
The Council also expressed support for the naira redesign policy of the CBN.
Former President Obasanjo and Jonathan Goodluck as well as the CBN Governor, Godwin Emefiele where at the meeting where the naira crisis was discussed among other burning national issues, including the lingering fuel supply crisis.
The Council of State comprises the President as the Chairman, Vice President (Deputy Chair), all former Presidents and Heads of Government, all former Chief Justices, President of the Senate, Speaker, House of Representative, all State Governors and Attorney-General of the Federation.
Meanwhile, Nigerian deposit money banks have reduced to a ‘’miserable’’ level the amount they pay to customers on a daily.
All the banks in the country are now paying N2,000 only over the counter, with majority of the branch managers claiming that they are awaiting further directive from the CBN.
‘’We just have to comply, and I can not say exactly why they (CBN) have asked us to behave this way to our valued customers,’’ a branch manager of a Tier-1 bank told theG&BJournal in Lagos, suggesting the CBN gave the order to pay the ludicrous amount to customers.
It is not certain when the crisis will be resolved as most of the branch managers told us that they are experiencing severe cash shortage in all their branches nationwide.
Majority of the bankers say they are now considering staying back at home because of fear of reprisal attack even if their head office doesn’t give the approval.
‘’I have three young children and I don’t want to leave them motherless because of the ‘stupid policy’. As you can see, we are all virtually prisoners in this branch now. We can’t open our doors, we don’t know how to explain why we are paying them (customers) only N2,000 from their hard-earned money,’’ a branch manager lamented.
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