Governor Babagana Zulum of Borno State has laments over the scarcity and no – circulation of the redesigned new naira notes, few days to the deadline given by the Central Bank of Nigeria (CBN) for the use of the old naira notes.
Speaking to members of the Central Bank of Nigeria (CBN) and committee on implementation, usage and level of compliance of the redesigned new naira notes at council chamber in Government house Maiduguri on Friday
He said that the scarcity of new naira notes has caused unnecessary economic hardship particularly IDP camps and other liberated areas with the state due to Boko Haram insurgency.
He said “as it is, out of the 27 local government areas, only three, made up of Maiduguri, Jere and Biu have a functional banks, while the remaining ones have been without banks for the past decades, in addition to destructions of telecommunication facilities and financial institutions perpetrated by insurgents.
Earlier in his address, Tumala said, the CBN directed that all its Directors should go back home to all the states of the federation to resolve all issues and challenges associated with the usage of the new currency.
“We are in Borno to ensure level of compliance by commercial banks and its customers for dispatching the new naira notes, and withholding of the old currency in circulation
