The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) has attributed the current scarcity of Naira notes to panic withdrawals by customers.
ASSBIFI President, Olusoji Oluwole, in a statement on Wednesday in Lagos, said such withdrawals are being done out of fear of the sufferings and hardship experienced earlier in the year.
He also traced the scarcity to the activities of unscrupulous persons, who are hoarding the banknotes for unethical gains, thereby inflicting pains and hardship on the masses with attendant inflationary pressures.
Warning the perpetrators against such unwholesome acts, Oluwole also cautioned the general public against panic withdrawals, saying: “the Central Bank of Nigeria has announced indefinite acceptance of the old denominations as a legal tender.”
He equally urged the union members to avoid distractions in the discharge of their responsibilities as the CBN continues to work with banks to ensure adequate supply and distribution of banknotes.
…withdrawals are being done out of fear of the sufferings and hardship experienced earlier in the year.
