July 14, 2024
Bankers Association Identifies Those Behind Naira Scarcity
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Bankers Association Identifies Those Behind Naira Scarcity

The Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, has blamed panic withdrawals by bank customers, and activities of ignorant and unscrupulous persons hoarding the Naira Notes for unethical gains for the unending cash crunch across the country.

In a statement titled “Scarcity of Naira notes”, President of ASSBIFI, Olusoji Oluwo, advised those hoarding the Naira Notes to desist as their actions were adding to the surging inflation bedeviling the nation’s economy and inflicting pains and hardship on innocent and vulnerable Nigerians.

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The association says its statement followed its receipt of several enquiries and complaints on scarcity of the Naira Notes in banks and various Automated Teller Machines, ATMs, around the country.

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