A Central Bank of Nigeria (CBN) monitoring team has accused Sterling Bank in Ado Ekiti, the capital of Ekiti State, of hoarding new naira notes for nearly two weeks under the guise that their automated teller machines had not yet been configured.
In a video circulating on social media, a CBN deputy director identified as Owoeye stated that there was no reason to keep the cash.
He said;
I’m currently at Sterling Bank as part of this monitoring compliance with the guidelines by the CBN. They have six million which they have collected from the bank for almost two weeks. They have not dispensed any. They said they are yet to configure their ATM. I don’t know why. I have brought their attention to the penalty clause of one million per day. They have five ATMs. They don’t have any reason for keeping this money.
WITHIN NIGERIA reports that there have been complaints from Nigerians across the country about economic hardship caused by a scarcity of naira notes.
Customers frequently encounter network issues when attempting to make transfers, causing them to leave without purchasing the goods, according to traders.
According to the CBN, the deadline for the validity of the old naira notes remains February 10, 2023.
Watch the video below:
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