Twenty-three working days to the deadline for Nigerians to return old N200, N500 and N1,000 notes to the banks for new ones, there are indications that top executives of banks are frustrating the distribution.
Investigation by newsmen revealed that instead of giving their customers the new banknotes, the new notes are only seen in parties and in the hands of politicians.
As a result of this, Nigerians have cried out that the banks are not releasing the new notes to them as they asked the Central Bank of Nigeria (CBN) to curb this ugly development.
The CBN governor, Godwin Emefiele, said on December 8, 2022, when he visited President Muhammadu Buhari in Daura, Katsina State, that banks in the country have taken delivery of the redesigned new notes for onward distribution to Nigerians.
Remarking that the CBN was prepared for the transition from the old notes to the new notes within the stipulated period, Emefiele said, “I said December 15 when we announced it. We said that will be when we issue the cash but we have to move it forward as the president unveiled it on November 26 and yesterday (December 7, 2022) the banks have received the new cash and will start dispensing them.
“I can assure everyone that it will go round but let us be calm and be patient. Luckily, the old currency continues to be legal tender until January 31 2023. Both the “painted and unpainted” will be legal tender and by January 31, unpainted ones will not be useful to you”.
The new twist is that the banks are not ready to give it out to Nigerians but to their friends andcronies, especially politicians.
It was gathered that some bank MDs are using their influence to help politicians who hitherto stashed huge sums of money at home for a huge cost.
