CAN demands probe of banks hoarding new naira



Wilson Adekumola


The Christian Association of Nigeria, Kaduna State Chapter, has said banks that are hoarding new naira notes should be investigated and if found culpable should be sanctioned.

The association, however, commended the President, Major General Muhammadu Buhari (retd.), for demanding that the 2023 elections must follow due process and free from vote-buying.


The Chairman, CAN, Kaduna, Rev. John Hayab, in a statement, on Sunday, made this disclosure while also praising Buhari for the 10 days extension given for the expiration of old notes.

According to the Punch, CAN urged the Central Bank of Nigeria to do everything possible within its capacity to ensure that the new notes circulate to put an end to the hardship Nigerians are facing to access the new notes.


It said, “Notwithstanding CAN believes that despite the temporary pains Nigerians face, the citizenry is prepared to support the President on the matter of the deadline, especially if it would assist to ease the tension in the country.


“Therefore, managers of banks who are found to hoard the new naira notes to create artificial scarcity, but are behind the public arena helping money-bag politicians to get the new notes, set the public up against the CBN’s new policy; such banks and bankers should be investigated, and if found culpable be made to face the wrath of the law.

“Nigerian citizens are yearning for the best and should not be made to suffer more hardships. Accordingly, CAN will continue to sensitise and mobilise our faithful to support any programme which its results could bring about good service delivery for a better nation.”