ABEOKUTA – The Central Bank of Nigeria has said it has discovered a commercial bank mismanaging about N4million of the new naira notes in Ogun State.
The CBN said it also caught some banks hoarding the new notes in their vaults for unknown reasons.The Deputy Director, Banking Supervision Department, CBN Lagos, Kayode Makinde, who went round the gateway state disclosed this to journalists on Tuesday.
Makinde accused some commercial banks of sabotaging the efforts of the CBN in making the new naira notes available to customers, saying they have been going round the State for the past three weeks to ensure compliance to the directives of the CBN as regards issuance of the new notes.
The CBN team leader asked Nigerians not to blame the apex bank for the scarcity of new naira notes, but the commercial banks.
He stated that the team uncovered a commercial bank that mismanaged new notes released to it by the CBN, threatening that such a bank and its officials would be sanctioned appropriately.
Speaking further, he explained that “we saw some trying to hoard new notes,” but they were compelled to upload same into their ATM terminals, saying others had poor cash management.
Makinde said the bank officials were asked that instead of trying to ration the new notes, the should upload the ones they have and contact their Central Cash Management Unit, which has direct access to CBN.
“We came across instances of sabotage on the part of operators, we will take the case up and will be dealt with appropriately.”
Makinde added that the commercial banks were directed not to pay out the new notes via the counter, but other notes.“Some of them did that and ran out of cash. Some of the branches deployed resourceful cash management skills and they never ran out of cash while others experience cash runs out and are still waiting for their source,” he said.
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