New naira: CIBN assures banking public of normalcy

The Chartered Institute of Bankers of Nigeria (CIBN) has assured the banking public of normalcy over the ongoing naira crunch across the country.

The Institute said it is working with assiduously stakeholders in the banking industry to bring the situation under control.

Akin Morakinyo, registrar/chief executive, CIBN, said this in a statement made available to BusinessDay on Tuesday.

“We sincerely empathize with the banking public on the difficulties encountered in accessing the new Naira notes which heightened tension and, in some cases, provoked acts of violence at different customer touch points.

“Whilst we understand the plight of bank Customers, we passionately appeal for calm and understanding as the regulator (the Central Bank of Nigeria) and the operators (the banks) are working assiduously to bring the situation under control.”

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He said relevant stakeholders within the ecosystem are being engaged with a view to addressing the unintended consequences of the laudable Naira redesign policy.

“To this end, we beseech the general public to eschew any act capable of exacerbating the current situation and exercise restraint while we enjoin all our members to carry on their duties with utmost professionalism and diligence.

“The Chartered Institute of Bankers of Nigeria, the umbrella professional body for banks and bankers is confident that this phase will pass with the cooperation of all and sundry and our country Nigeria will come out of this stronger, ” Morakinyo said.