Goaded by the expanding measure of grimy, mangled naira notes available for use, the banking public in Lagos and its environs are accusing commercials banks and requiring the Central Bank of Nigeria (CBN) to control the circumstance.
This they stated, have been causing a considerable measure of contentions, humiliation, and loss of offers for commercial transport drivers, negligible brokers, and their clients among others.
Be that as it may, in a quick response, the CBN, through the Acting Director of Corporate Communications, Mr. Isaac Okoroafor said commercial banks are in charge of this since they purposely surge the framework with such notes.
A bank client and attorney who favored namelessness is truly stressed that the disturbing amount of messy/ravaged cash notes available for use had turned into a national humiliation.
He included that banks were issuing torn, mangled and unhygienic money notes through Automated Teller Machines (ATM), and over the counter.
In particular, he stated, “I watch that regardless of capture and ensuing indictment of the guilty parties, there is as yet a cartel in CBN and commercial banks, which make energetic commercial reusing old naira notes implied for devastation.
They enhance their bank accounts as per him, getting properties through these illicit continues by changing over what might as well be called the ruined notes into their records and selling printed mint, implied for clients, to touts and peddlers.
“Section 21(4) of the CBN Act of 2007 makes it a culpable offense for any individual to peddle, offer or exchange naira notes, coins or some other issued by the summit bank,” he said.



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