• Monday, July 22, 2024
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Naira design: PSN urged Central Bank to guide banks on supreme court’s assertion

Central Bank of Nigeria (CBN) has been urged to come up with a specific position that will guide the banks in view of February 8, 2023 Supreme Court’s declaration on the naira design.

President of the Pharmaceutical Society of Nigeria (PSN), Cyril Usifoh who made the call in a statement, explained that such position would go a long way in diffusing tension as well as restoring credibility in the banking system.

Usifoh in the release also stressed the need for government agencies to desist from complicating the already chaotic situation, adding that in Kano State, the government threatened to revoke the Certificate of Occupance (C of O) of banks that refuse to collect the old naira notes.

“PSN has observed with concern the paralysing and suffocating impasse that has accompanied the CBN driven naira design.

“When this is added to the unduly long week of prevailing fuel scarcity, then it becomes all too obvious that these forces are conspiring to further reduce the unacceptable life expectancy of the Nigerian citizens put at 53,” he said.

Usifoh further said: “We note with dismay that even federal government apparatus and institutions not only reject the old naira notes, but insist on payment of services through confirmed transfer services or payments with bank tellers into their accounts.

“Even the Judiciary commonly perceived as the hope of the common man has not aligned with people who seek justice in the circumstance because most of the courts in the land have stopped collecting old naira notes from people gearing to file processes in court registries.

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“As it stands today, the economy appears to be grinding to a halt with the full potential of a sudden rise in cases of morbidity and mortality because disease progression remains a major risk factor in a population where the less privileged who relies on out of pocket expenses to access healthcare is denied access to cash.”

“This certainly makes a huge significant of Nigerians vulnerable to death if this unhealthy scenario remains unchecked.

“For a country where a substantial majority relies on subsistence living because they thrive and live on daily earnings as artisans, market men and women, okada riders, bus drivers and so on, it is only a matter of time that the country might reap the consequences of its negligence of the health of the citizenry.’’

The PSN also called on government hospitals to initiate treatments especially in the accident and emergency units and in-patients department while acceptable payment modalities are being sorted,” had said.

The society also called on the federal and state governments to review the operational modalities of social health insurance in the country so as to ensure that all endeavours are inclined on the path of lawful pillars in the plan of action.

“The PSN reiterates that the NHIA must conform with lawful payment mechanism and delineate facilities that qualify to be gatekeepers or primary providers which are eligible for capitation payments rather the indiscriminate capitation that is presently extended to secondary and tertiary facilities which remains a misnomer.

“The PSN in particular draws the attention of the NHIA secretariat to salient provisions of the PCN Act 2022 which forbids the dispensing, sales and stocking of drugs in premises not registered by the PCN.

”The PSN assures consumers of health that pharmacists shall continue to stand with them as we continue to facilitate the manufacturing of essential drugs in the factories and making them available at accessible pharmacies at affordable prices in line with the tenets of the National Drug Policy”, the statement added.