Naira Crisis: CIBN To Address Challenges, Prioritizes Bankers’ Safety

Amidst the persistent challenges posed by the new naira policy by the Central Bank of Nigeria CBN, the Chartered Institute of Bankers of Nigeria on Friday said it was liaising with the Body of Banks’ Chief Executive Officers to address the current challenges occasioned by the redesign of the N1,000, N500, and N200 notes.

It said the banks would continue to remain open to serve the public as long as it was safe to do so.

It, however, said the safety of bank workers was paramount.

Several deposit money banks have come under attack by angry customers, with protests recorded in different states across the country, over the scarcity of the redesigned N1,000, N500, and N200 notes.

The President, Major General Muhammadu Buhari (retd.) on Thursday said the old N200 note would be legal tender till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the Central Bank of Nigeria.

According to the PUNCH, the CIBN, however, in a statement signed by the President/Chairman of Council, Ken Opara, and made available said the management of banks had been empowered to take proactive measures to close operations in locations where there was a security challenge and inform the CBN.

The statement titled, CIBN, Body of Banks CEOs, Sue for Calm, Reassure the Public that the Banks Will Remain Open So Long it’s Safe to Do So, read in part, “Therefore, the safety concerns being expressed in various quarters are already being addressed.

“Banks will continue to ensure that adequate security is in place to protect staff and customers whilst safeguarding the assets of the banks in contending with the current challenge.

“Consequently, we appeal to the general public to remain calm and eschew any act of violence as the banking industry remains resolute and committed to finding ways to address all the related issues.”