New Naira Crisis: CAN Reacts, Demands Probes of Banks Allegedly Hoarding Cash

Amidst the growing tension and untold difficulties in accessing and withdrawing from banks in the country, the Christian Association of Nigeria, Kaduna State Chapter, has demanded the probe of banks allegedly hoarding the new naira notes.

This was as the association extolled President Muhammadu Buhari for insisting that the 2023 elections must be free, fair, and credible.

The Christian group through its Chairman, Rev. John Hayab, in a statement in Kaduna on Sunday, also commended Buhari for the 10 days extension given for the swap of the old naira notes.

However, CAN called on the Central Bank of Nigeria to do everything possible within its power to ensure that the new notes circulate to end the stress being faced by the Nigerian masses in accessing the new notes.

The statement read in part; “Despite the temporary pains Nigerians face, the citizenry is prepared to support the President on the matter of the deadline, especially if it would assist to ease the tension in the country.

“Therefore, managers of banks who are found to hoard the new naira notes to create artificial scarcity, but are behind the public arena helping money-bag politicians to get the new notes, set the public up against the CBN’s new policy; such banks and bankers should be investigated, and if found culpable be made to face the wrath of the law.

“Nigerian citizens are yearning for the best and should not be made to suffer more hardships. Accordingly, CAN will continue to sensitize and mobilize our faithful to support any program whose results could bring about good service delivery for a better nation.”


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