ZAMFARA: Hoard New Naira Notes, Lose Land Ownership, Governor Warns Banks


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Zamfara State Governor Bello Matawalle.

The Governor of Zamfara State, Mr. Bello Matawalle, has cautioned deposit money banks in the state against hoarding of new Naira notes.

Matawalle reportedly issued the advisory on Monday in the course of his unscheduled visits to the Gusau Branch of the Central Bank of Nigeria (CBN) and five other deposit money banks to assess the situation as it relates to accessing cash by the citizenry, following the scarcity arising from the swap of the old N200, N500 and N1,000 banknotes for the redesigned new versions.

A statement issued in Gusau, the Zamfara State, North-West Nigeria, on Tuesday by the Press Secretary to the Governor, Mr. Jamilu Birnin-Magaji, said that Matawalle was irked by the long queues at Automatic Teller Machines (ATMs), amidst acute scarcity and hopelessness in the state.

Birnin-Magaji listed the banks visited by the Governor to include: CBN Gusau Branch Headquarters, United Bank for Africa (UBA), Jaiz Bank, Ecobank and First Bank.

Birnin-magaji said: “Matawalle, during the visit, warned the managements of the banks to desist from the bad practice of hoarding the new Naira notes.

”He also directed bank officials to dispense the new Naira notes via the Automated Teller Machines (ATMs) and at the banking halls.”

Birnin-Magaji further quoted Matawalle as warning that his administration will not hesitate to revoke the land ownership of any deposit money bank not willing to ease the sufferings of the people.

The Governor’s spokesperson stated: “Earlier, at CBN, the Governor urged the Branch Controller of CBN to ensure the availability of new Naira notes at the commercial banks for people to access their money to conduct their daily activities with relative ease.

“Matawalle invited the Controller of CBN, Gusau Branch, to accompany him to some branches of the banks in the state capital to assess the obnoxious situation.

“During the visit, Matawalle expressed concern over the long queues of people at the ATMs in the bank branches and called on the managers to find means of easing the hardship being faced by the customers.”

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