Naira Redesign: Gov Buni Charges Commercial Banks To Open More Branches

As the deadline for the take off of new currencies by the Central Bank of Nigeria (CBN) draws nearer, the Yobe State governor Hon Mai Mala Buni has called on the commercial banks operating in the state to open more branches with a view to ameliorate the sufferings of the people living in the rural areas especially those without bank accounts.

Buni, while speaking shortly after launching 50 POS machines donated by UBA for revenue collection and remittance into the state coffers, said the call became necessary taking into consideration the nature of the people especially those at the remote areas.

The governor said many rural people in the northern part of Nigeria are in the habit of dealing with cash rather than bank transactions, making many of them moving with bulk of cash that must be deposited before the expiration of the CBN’s date.

He said, “In Yobe, only four out of the 17 local government areas have banks and many of our people are either farmers or pastoralists that believe in holding cash rather than transactions in banks.

“It is high time to expand your branches to all local government headquarters though in the meantime you have to devise a means of making our people understand the policy as well as how to deposit their money easily without unnecessary challenges.”

Buni commended the bank for the donation saying, “I wish to reiterate that with support from development partners like the EU and other financial institutions, we are committed to collectively work as a team to plan, formulate and implement policies and programmes that will impact positively on the lives of our people.”