Zulum to banks Dispense New Notes Or We Revoke Your Land

Zulum to banks Dispense New Notes Or We Revoke Your Land:  The Borno State Governor, Professor Babagana Umara Zulum has directed that any bank which refuses to dispense new naira notes via Automated

Teller Machines (ATMs) and banking halls should have its land revoked by the state government.

Except for those with verifiable constraints such as lacking supplies from the Central Bank of Nigeria

Prof. Babagana Umara Zulum issued the directive on Friday afternoon in Maiduguri after visiting

branches of banks to assess problems being faced by residents in trying to access new naira notes

via long queues at ATMs amid acute scarcity and hopelessness.

 

Zulum to banks Dispense New Notes Or We Revoke Your Land: THE BANKS

“Any bank in Borno State that is not willing to ensure their ATMs are fully dispensing new naira notes

cash to ease the suffering of our people, we will withdraw their land title immediately. We will only

spare Banks with genuine constraints that are verifiable” Zulum said.

Before that declaration, Governor Zulum was unhappy when he saw hundreds of people queued

at a bank’s branch, with only one out of 10 ATMs dispensing cash.

“As you can see here, only less privileged people are queued up. I didn’t see rich people here.

Many people are said to be here since 3:00 am, some could not even eat anything. The new naira

note and even the old ones are not available and that is adversely affecting commercial activities in the state and people are suffering” Zulum said as he sympathize with people in queues.

 

FURTHER MORE

The Governor said further: “We just released salaries of about 5 billion naira and the banks don’t

have money, some of the ATMs are not working. We don’t have any problem with the CBN policy

or the withdrawal limit, they said individuals can only withdraw N20,000, but why can’t everyone

have access to that N20,000?” he said.

“Yesterday I was in Gubio with a population of over 70,000 people but it was impossible to source

N100,000 in the entire local government, neither of the new note nor the old notes. A ram that is worth

N100,000 is now being sold for N35,000 because people are desperate for cash, and some wicked rich

people are going to rural areas to exploit poor people” Zulum noted.

The Governor urged the Central Bank of Nigeria (CBN) to ensure the availability of new notes at commercial

banks for people to access their money.

“Right now in Borno State, I have visited more than ten ATMs and there’s no cash” Zulum said.