Connect with us


CASH CRISIS: Bayelsa Govt Backs FG Urges CBN To Supply New Banknotes



The Bayelsa State Government has backed the naira swap policy of the federal government, urged the Central Bank of Nigeria (CBN) to make the new banknotes available to commercial banks in the state to mitigate the suffering of the people.

The state Deputy Governor, Senator Lawrence Ewhrudjakpo, who made the call at a meeting with bank managers and service commanders in Yenagoa, expressed concern over the difficulties the people experience following the scarcity of the new banknotes in the state.

Read More:Naira Scarcity: We Don’t Have Enough Paper To Print New Notes -CBN

A statement issued by his media aide, Mr Doubara Atasi, quoted Senator Ewhrudjakpo as saying that the meeting was convened as a response to the security concerns resulting from the CBN naira swap policy and the attendant hardship being faced by the public to get the new naira notes to meet their daily transactional needs.

He urged residents of Yenagoa to be law-abiding, assuring that government would take precautionary measures to prevent any breach of the existing peace in the state.

The Statement Reads

“Our number one responsibility as a government is to ensure peace and security of our people. We are aware and deeply concerned about what our people are passing through because of the CBN currency swap policy.

“That is why we called this meeting to see how we can manage the situation we have in our hands. We believe the banks should be open for business because the security agencies are there to protect you.

“This idea of locking up the banks is not helping us. If there is no money, you let the public know. But if the people know you have money and you are not paying or transacting business, it will definitely cause problems. And that’s what we don’t want.”

“We support the naira redesign and swap policy of the Central Bank Of Nigeria, because we know it will bring positive change in our economy but we are begging the CBN to please make the new notes available to reduce the scarcity of cash being experienced across the country and in Bayelsa as well.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Weekday Trends