The Chartered Institute of Bankers of Nigeria (CIBN) has urged Nigerians to disregard contrary information about the Nigerian banking sector following the naira scarcity challenge, assuring that it is focused and working round the clock to resolve the issue.
The CIBN disclosed this in a statement signed by its President Dr Ken Opara, as reported by the News Agency of Nigeria. The statement further clarified that there is no shortage of materials for minting new notes.
Further clarifications: Reacting to reports that the Central Bank of Nigeria (CBN) planned to shut down some deposit money banks, the CIBN stated the reports are false and misleading.
- “We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited.
- “This has also been debunked by the Nigeria Security Printing and Minting (NSPM) Company, which described the story as false, baseless, and misleading.
- “NSPM has assured that it has made adequate arrangements to continuously produce redesigned naira notes as well as other denominations.
Focused: They added that they are focused and committed to mitigating the issues caused by the scarcity, the statement read:
- “We implore the public to disregard any contrary information as the entire banking community remains focused, and committed. The industry is also working round the clock to address all contending issues with a view to restoring normalcy.
- “We indeed appreciate your continued patience and understanding as we work together toward building the Nigeria of our dream.”
In case you missed it: The Central Bank of Nigeria (CBN) debunked a report claiming that the Nigerian Security Printing and Minting Company Plc, has no capacity to print more new notes to address the current naira scarcity.
The CBN in a statement signed by its Director of Corporate Communications, Osita Nwanisobi, said the report, which was attributed to the CBN Governor, Godwin Emefiele, was misleading, adding that the CBN Governor was misquoted.