Go after bank managers, other officials hoarding new naira notes — Osun CSC tells security operatives

By Ismail Azeez, Osogbo

Osun Civil Societies Coalition And The Peoples Advocates on Monday called on security operatives and anti-graft agencies to go after bank managers and other officials who have been hoarding the new naira notes.

The group also demanded that the Central Bank of Nigeria (CBN) should make enough amount of the new naira notes available to the banks in the interest of Nigerians.

Speaking on the “Lingering Cash And Fuel Scarcity in the country” at a press conference addressed at the NUJ Correspondent Chapel, Osogbo, one of the leaders of the groups, Comrade Waheed Lawal described the refusal of the CBN to release enough of the redesigned new currency for citizens as a deliberate attempt to punish Nigerians unjustly.

He emphasised that there is need for the security agencies to arrest bank officials who sabotage the processes of getting the new denominations widely circulated.

Lawal said that the cash scarcity has crippled many businesses and further pushed millions of Nigerians far below the poverty line.

He further said that petty traders do no longer make sales because of cash transaction which their trading depends upon.

He, however, called on President Muhammadu Buhari to be more sensitive to the plight of the people, saying Nigeria is falling apart under the watch of his administration.

“The return of fuel scarcity is nothing but a pointer to the success or otherwise of his administrations. We demand an end to the fuel scarcity now! We need the president to be compassionate in addressing the fuel scarcity,” he said

According to him, “The scarcity of fuel and cash is a calamity that needs to be addressed urgently. Nigerians have been pushed to the wall, and this ongoing provocation, if care is not taken, might trigger violent protest nationwide in which #EndSARs might be a child play. It is the awareness of this fact, coupled with intelligent report that made us to suspend the mass protest that was supposed to be held today. We do not want to create platform for some elements whose only language they understand is violence.

“The outcome of last week protest in Ibadan and Benin is an indication that Nigeria is sitting on a keg of gunpower. The hardship is becoming unbearable to the generality of the people.

“While we suspend our protest for today, we will hit the street anytime soon if the cash and fuel scarcity persist.

“We make bold to say that this financial policy of the Federal Government is doing more harm than good presently. There should have been another way round to maintain a balance between cash control and the wellbeing of the people.”

Meanwhile the Publicity Secretary, The Peoples Advocates, Comrade Emmanuel Olowu posited that  there are saboteurs among the top echelon of the banking industries, but the CBN has not also released enough amount of the redesigned denominations to banks through which they can disburse to the generality of people.

Olowu further said that the Central Bank of Nigeria led by Mr Godwin Emefiele has clearly been playing hide-and-seek game on the circulation of the new naira notes.

According to him, “We need not to tell you the agony of Nigerians who queue for more than six hours hours to get cash from ATM. Some people are even unlucky as they will not be able to get cash at the end of the day after spending several hours on the queue

“Considering the pains being experienced by the common men in getting cash for their livelihood, it would not be out of place to declare that the President Muhammadu Buhari-led Federal Government is inconsiderate and insensitive to the plight of the citizens.

“It is pathetic that we are experiencing a double jeopardy – a situation where there is no cash, and there is no fuel. The scarcity of fuel has been lingering for months without any end in sight. It is unfortunate that President Muhammadu Buhari who directly supervises the Ministry of Petroleum Resources has been paying lip service to ensuring that fuel is available at affordable rate for Nigerians.