Banks Hoarding New Naira Notes For Next Month’s Elections – Shehu Sani

Senator Shehu Sani, a former Nigerian lawmaker, has made some fresh claims against Nigerian commercial banks.

He alleged that banks are hoarding the redesigned Naira notes for politicians in the February elections.

There has been outrage across the country over the scarcity of new notes as banks continue to dispense the old notes despite the approaching deadline.

The Central Bank of Nigeria, which earlier directed that the old notes be phased out on January 31, had urged customers to persuade banks for the new notes.

Less than 11 days to the deadline, customers are yet to access the notes in banks.

Speaking on the matter, Shehu Sani in a tweet on Saturday alleged that politicians are conniving with banks to hoard the new notes for the February election.

According to him, the refusal of the banks to release the notes defeated the ultimate aim of the redesigning.

He wrote, “Banks are hoarding the new currency from the public with the intent of making it available for politicians next month to be able to buy votes.

“The ultimate aim of redesigning the national currency is defeated”.