Borno, Yobe can’t beat deadline on new Naira notes circulation – Zulum

From: Shehu Abubakar, Maiduguri

Borno and Yobe states may not beat the deadline for the expiry of old naira notes and the circulation of the new ones.

Governor Babagana Umara Zulum of the state has listed challenged he described as insurmountable for the end of the circulation of the old notes.

He was speaking in Maiduguri on Friday, January 20, when a team of the Central Bank of Nigeria (CBN), led by the CBN’s Director of Statistics, Muhammad Tumala, to monitor compliance with directive on the deadline paid him a courtesy call.

He said apart from the non-availability and circulation of the new notes, only three of the 27 Local government areas of the state – Maiduguri Metropolitan, Here and Biu, have functional banks due to insecurity which has rendered majority of the communities in the state inaccessible.

Zulum said the remaining 24 LGAs have been without banks for the past one decade, apart from the lack of communication service due to destructions of telecommunication facilities and financial institutions by Boko Haram insurgents.

“Borno State Government is really in support of the CBN policy in redesigned new naira notes, as it will have a long run positive effect on Nigerians, but sincerely speaking, all the infrastructures needed to implement this new CBN’s policy are not in existence in many parts or communities of Borno,” Zulum stressed.

“If as governor, I do not possess the new naira notes currently, what of a poor person in the village or on the streets?,” he lamented.

“Just last week, the Borno state government under my leadership has approved the release of the sum of N800 million to cushion the hardship faced by our repentant Boko Haram Terrorists,” the governor disclosed, querying, “so how does CBN expect these repentant terrorists who are still under the custody of our security operatives come out to exchange their old naira notes or open an account with commercial banks?”

He continued: “Secondly, it is disheartening to inform you that there is no vehicle that had access to Kala- Balge local government area for the past seven (7) months due to the terrain and insecurity.”

Zulum explained: “There are thousands of IDPs in Kala- Balge who are currently faced with hunger. This is because, they only travel about 16kms by canoe to buy food items from neighbouring communities of Cameroun Republic.

“Unfortunately, I was told last week that these traumatized people could no longer buy food items from neighbouring Cameroun communities who are largely rejecting the old naira notes,” he lamented.