Jutha Gupah, Damaturu
Governor Mai Mala Buni of Yobe state has tasked commercial banks to open more branches to enable people to replace their naira notes at the grassroots.
The N200, N500 and N1, 000 notes to be replaced by the Central Bank of Nigeria (CBN) expires on January 31, 2023.
Buni gave the task, yesterday (Monday), in Damaturu, while launching 50 Point of Sales (POS) machines donated by the United Bank of Africa (UBA) to collect more revenues in the state.
“I, therefore, called on commercial banks operating in the state to open more branches across the state,” he said.
He noted that increase in branches of commercial banks could ameliorate the sufferings of people while replacing the three naira denominations of notes.
According to him, most of the people in rural areas of the state; don’t have bank accounts for the replacements of old naira notes.
Citing the affected councils, he said: “Thirteen insurgency affected Local Government Areas don’t have branches of commercial banks to own bank accounts,” adding that they are to exchange the old notes with new ones.
Besides, he added that the rural people are in the habit of dealing with cash rather than bank transactions.
He said that most of the rural dwellers are moving with bulk of cash that should have been deposited before the CBN deadline.
“In Yobe, only four out of the 17 Councils have banking outlets,” stating that most of the people are either farmers or pastoralists.
“They however; believe in holding cash rather than transacting with commercial banks.”
He, therefore, called on commercial banks to open more branches in the remaining 13 council headquarters in the state.
“You are to devise means of making our people understand the policy as well as how to deposit their money with ease without challenges.”
While commending the commercial banks and other development partners, he said: “The European Union (EU) and other financial institutions are committed to the plan and formulation of policies and programmes that could impact on people’s living conditions.
End.
