General

Borno Governor Laments Inability To Implement New Naira Policy

The Executive Governor of Borno State Professor Babagana Zulum has lamented over the existence of inadequate infrastructures in the state, for the effective implementation of naira redesign policy of the Centra Bank of Nigeria.

Zulum disclosed this when he received a delegation from the CBN on naira redesign policy compliance in the State.

The governor lamented over the poor internet infrastructure in the State which is making it difficult for Borno people to do transaction via the internet.

The governor asked “What about the infrastructure needed to implement this policy? It’s not in existence at all. In Maiduguri today from 5kilometer/10kilometer away, you can’t access phone network not to talk of having an internet service in some of the areas”.

“While people are speaking of 4g, 5g, we don’t even have 2g in most of the areas. What can we do? Go to Baga, anybody wish to come to Maiduguri from Baga, can’t come in a day. Somebody who has twenty thousand naira, how can he come and open account and go back? policies are made for the betterment of the masses, the naira redesign policy will further worsen the economic situation and deepen poverty in the State as the State is in post insurgency era where rehabilitation, resettlement and reconstitution is taking place.

He said if the deadline for the use of old naira note is not extended, poverty will increase in Borno State.

The CBN delegation was led by Dr. Mohammed Tumala the Director of Statistics. Who said the team is in the State to resolve all the challenges that come with the implementation of the redesign naira note.

“the Central Bank of Nigeria mobilize team to visit all the States of the federation. Each directors was asked go home and resolve all the issues in your respective States”.

“And Being a Borno State indigene, I had to come here personally. We have a mandate, and one of it is to ensure the newly redesign naira note are made to Nigerians before January 31, 2023 deadline especially in interlands, Rural or pipelong communities in the country; we need to arcertain that Banks and other financial institutions are complying with the CBN directive on the new note as it relates dispensing them strictly into ATMS.”

The team leader informed the governor that the CBN has already taken cognizance of the peculiarity of Borno State. He told the governor that plans have already been concluded on the challenges the people of Borno State are facing with regards the redesign of the new naira note including areas without Banks and ATMs.

Source: Voice of Nigeria