Massive queue at an ATM stand amid the scarcity of new naira notes
Eko Hot Blog reports that Lagos State Governor, Babajide Sanwo-Olu, has urged residents to stay calm amid the cash scarcity they are grappling with.
The decision of the Central Bank of Nigeria (CBN) to introduce redesigned naira notes and phase out the old notes has triggered a cash scarcity that has endured for several weeks.
Despite numerous promises by the authorities to arrest the situation, it has lingered.
The situation prompted some governors, including the Lagos governor, to meet with President Muhammadu Buhari on Friday.
According to the Lagos Commissioner for Information and Strategy, Gbenga Omotoso, Sanwo-Olu joined the delegation to deliberate on measures to remove the hardship caused by the scarcity of the new naira notes.
Lagos State Governor, Babajide Sanwo-Olu
In a statement, Omotoso said Sanwo-Olu asked residents to remain calm as relevant authorities are working to solve the problem.
“The Lagos State Government has observed the tension caused by the slow release of cash through Automated Teller Machines (ATMs) and within banking halls,” the statement reads.
“Governor Babajide Sanwo-Olu today joined a delegation that met with President Muhammadu Buhari in Abuja to deliberate on measures to remove the hardship caused by the scarcity of the new currency.
“Mr. Sanwo-Olu urges residents to remain calm as the government is doing everything possible to normalise the situation. The Central Bank of Nigeria (CBN) has promised to put measures in place to ensure residents have access to currency notes released to banks.”
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