The Central Bank of Nigeria (CBN) threatens to deal with commercial banks hoarding the new naira notes from the public.
Many Nigerians have complained that banks are still dispensing old notes to their customers instead of mopping up ahead of the January 31 deadline, alleging that the banks are hoarding the new notes.
The CBN’s Branch Controller in Awka, Anambra State, Mr. Benedict Maduagwu, who spoke during a sensitization programme held for traders at the Onitsha main market on Thursday, said the apex bank would soon monitor the activities of the banks on the new naira notes.The hoarding of banknotes by members of the public, with statistics shows that 84.71 percent of currency in circulation are outside the vaults of commercial banks, with only 15.29 percent in the CBN and commercial banks.
