Bello Matawalle, the governor of Zamfara, has cautioned deposit money banks in the state not to stockpile new Naira bills.
Matawalle made an impromptu visit to the Gusau branch of the Central Bank of Nigeria (CBN) and five other deposit money banks on Monday to check how difficult it was for customers to obtain the new naira notes.
The governor was reportedly irritated by the long lines at ATMs because the state has so little money and hope, according to a statement issued on Tuesday in Gusau by the governor's press secretary, Jamilu Birnin-Magaji.
The governor reportedly visited the United Bank for Africa (UBA), the CBN Gusau branch headquarters, Jaiz, Eco, and First Banks, according to Birnin-Magaji.
Birnin-magaji said: “Matawalle, during the visit, warned the managements of the banks to desist from the bad practice of hoarding the new Naira notes.
” He also directed bank officials to dispense the new Naira notes via the Automated Teller Machines (ATMs) and at the banking halls.”
Birnin-Magaji also said that Matawalle warned that his government would not hesitate to take away the land rights of any deposit money bank unwilling to help the people.
“Earlier, at CBN, the governor urged the Branch Controller of CBN to ensure THE availability of new Naira notes at the commercial banks for people to access their money to conduct their daily activities with relative ease.
“Matawalle invited the Controller of CBN, Gusau branch, to accompany him to some branches of the banks in the state capital to assess the obnoxious situation.
“During the visit, Matawalle expressed concern over the long queues of people at the ATMs in the bank branches and called on the managers to find means of easing the hardship being faced by the customers,” Birnin-Magaji implored.