Banks hoarding new Naira should be investigated- CAN

The Christian Association of Nigeria, Kaduna State Chapter, has requested an investigation into banks that are hoarding the brand-new Nigerian naira notes.

This was because the group praised the president, retired Major General Muhammadu Buhari, for insisting that there must be no vote-buying during the 2023 elections.

In a statement released on Sunday in Kaduna, the Chairman of the Christian group, Rev. John Hayab, also praised Buhari for the ten-day extension granted for the exchange of the previous naira notes.

CAN, on the other hand, pleaded with the Central Bank of Nigeria to do everything in its power to ensure the circulation of the new notes to alleviate the stress experienced by Nigerians trying to access them.

According to the organization, “Notwithstanding CAN believes that the citizenry is prepared to support the President on the matter of the deadline, especially if it would assist in easing the tension in the country, despite the temporary pains that Nigerians face.”

“Therefore, bank managers who are found to have hoarded the new naira notes to create an artificial scarcity but are behind the public arena assisting money-bag politicians in obtaining the new notes, set the public against the CBN’s new policy; Such banks and bankers ought to be investigated, and if they are found guilty, they ought to face the law.

Nigerians want the best for themselves and should not be subjected to additional hardships. As a result, CAN will continue to educate and mobilize its adherents to support any program whose outcomes could result in improved service delivery for the nation.”