Banks hoarding new naira should be probed – CAN

Following the scarcity of the new naira notes in the country, the Christian Association of Nigeria, Kaduna State Chapter, has called for a probe of banks hoarding the new naira notes.

According to the association, Nigerians must support President Muhammadu Buhari's call to prevent vote-buying in the coming election despite the challenges facing the naira redesign.

Chairman of the CAN Kaduna chapter, Rev. John Hayab, hailed Buhari in a statement on Sunday, for the 10 days extension given for the swap of the old naira notes.

CAN also urged the Central Bank of Nigeria to ensure that the new notes circulate in order to end the chaos happening in the country.

The association said, “Notwithstanding CAN believes that 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 sensitise and mobilise our faithful to support any programme which its results could bring about good service delivery for a better nation.”