NewStats: 3,259,357 , 8,169,883 topics. Date: Saturday, 24 May 2025 at 06:47 PM 4f703y

The excruciating pains confronting Kano residents as a result of naira scarcity may soon degenerate as commercial banks in the ancient city now operate with zero cash in their vaults.

Worse still, the new and old generations of financial institutions have stopped receiving old naira notes from customers in the last three days despite a government threat to sanction erring outlets that turn down the legal tender.

Chairman, Kano State Public Complaints and Anti-corruption Commission, Barr. Mahmoud Balarabe told journalists at the end of the commission’s enforcement operation Wednesday evening.

Barr. Balarabe disclosed that the Anti-corruption Commission had embarked on enforcement operations to banks, petroleum stations and other outlets following a series of public outcry on the outright rejection of the old naira notes.

Against the raising pressure and mounting accusation on commercial banks over the scarcity of new naira notes in circulation, the Anti-corruption boss declared that the majority of financial institutions are now running with empty vaults after depositing old notes to the Central Bank of Nigeria (CBN).

Barr. Balarabe said, the commission monitored cash flow across and distribution at about 10 branches of various commercial banks in Kano and uncovered that both the old and new legal tender were not available. He said the bank managers revealed that the Central Bank of Nigeria (CBN) refused to issue new naira notes to them.

” We visited the banks and check the vaults and unfortunately we realized they are operating zero vaults in Kano. Our initial belief is the banks were hiding the naira notes and deliberately refused to distribute them to the public. However, we were proven wrong. CBN has refused to give them money after the banks already made remittance to the CBN”.

Barr. Balarabe however warned supermarkets, filling stations and other business premises to desist from rejecting the old naira notes or risk maximum sanction. He issued a similar threat to POS operators from taking the advantage of the cash scarcity to charge outrageous prices.

Anti-corruption threatened to arrest and prosecute any business outlets who reject the old naira notes and insisted the currency remain a valid legal tender. He said a few people have already been arrested for violation of the directive.

Barr. Balarabe equally disclosed that the commission held a meeting with the leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN) against those adjusting their pump and violating the regulated price.

https://guardian.ng/news/economic-crisis-looms-as-commercial-banks-run-out-of-cash-in-kano/

The illiterate hausa wey bash my boss's car with his tricycle and was proving he had the right to do so in 2019 because buhari won the elections, I hope you're doing fine now.

ganisucks:


https://guardian.ng/news/economic-crisis-looms-as-commercial-banks-run-out-of-cash-in-kano/

These Meeenn

Kikiki... what happened to Bank De Ganduje. Don't they have billions of old naira notes to share to the people? 😁

Shithole of a country

Let them consult the Governor of Kano Central Bank...... for more old notes after decieving himself and others

... Emefiele on the beat. Since some governors want to be CBN governor and state governor at the same time! Let them go and force the money out of the hands of CBN. Some uninformed individual here will be shouting politicians have the new money like they are the ones that gave it to them.

I rather suffer for an extra 30 days to secure a better future than continue growing in suffer to enjoy new note!

This country don tire me oooo! I feel like to japa.

Nigeria Economy = Specimen A.
Emefiele = Quack Apprentice Economist
Senate =. Rubber stamp will approve anything


Buhari came to power in 2015 and started taking loans , Emefiele printed N2 Trillions in addition to 1.7 trillion they met in the economy and that resulted in huge inflation,

Buhari trying to remove the excessive cash in circulation now, he said they have successfully retrieved 2 trillions Naira

People are suffering, Obaseki raised alarm when CBN was printing this excessive money 2 years ago but they ignored him, APC has failed us.

They are just using us for experiments

Gandollar has mopped all the available new monies into his babanriga bullion vans agbada.

why won't they run out of cash. When Gandollar can easily exchange his stockpile and leave the people hanging

Lol....

Gandollar should share dollars to all kano residents💵💵💵💵

Sai baba😁

Not only in kano...E dey happen for allover the country.......As a matter of fact,those of you cheering Buhari up,hope you guys would be safe in your various havens when the heat of hunger will begin to create more chaos and havoc . ?

Las las,e go reach everybody one by one..

CBN reports that there is still about 600 billion naira of the old notes out of the banking system, the question is who are the people with the 600 billion.

For me, I think most part of that money belong to the people running to supreme court to fight Buhari and CBN

More reasons they should vote out this demonic party aPC

I plead with everyone to be patient. This issue will be a thing of the past after the elections. This is what Thieffnubu brought on Nigerians and he will pay for it by losing the election.

Peter obi

They should borrow from gandola/gadunje now

Nice one. We all must feel the pains of irresponsible government

Who else noticed Northerners are not more affected like Southerners earlier....just this week....

Olopa ma ko anybody


Gbas gbos

I suggested this two days ago that 200 note should be reintroduced. Now that 200 naria old note has been reintroduced, in my opinion, for the time being, let commercial banks stock some of their ATMs across the country with 200 notes, make daily withdrawal 5k and weekly 20k. Let atms with 200 notes be reprogrammed to dispense 25 bills at once inorder to speed up withdrawal process at the atm.

Any transaction above 5k should be done online. With 5k cash, people should be able to run basic needs since the politicians said they're fighting for the poor

The president has been ill-advised by going against the ruling of the supreme court. In a democratic dispensation, separation of power is paramount and should be respected. Unfortunately, disregarding the ruling of the supreme court has a very strong negative effects on the judiciary.

It's ordinary Nigerians that will suffer this. Buhari, Emefiele, Tinubu, Atiku, Obi Kwankwanso, Sowore, etc will not suffer for it.....

When your oppressors convince you that they are oppressing you for your own good and you go about shouting "Yeah it's good like that let's see how the politicians will escape it"....they are laughing behind your back


Watch out for the worst vote buying on Feb 25.....all the new money politicians have been hiding will be spent on vote buying

CBN Dey do dia own, Banks sef Dey do dia own.

G’ndujeBank fit get cash for dem

OmoOshodi:
Who else noticed Northerners are not more affected like Southerners

usage of Niger republic currency na. Life goes on.

this is becoming unbearable

Funny enough they will still want to use their hand vote in another suffering in APC and Tinubu while their excruciating pains and hunger continue. Una never see anything

That's serious

All these propaganda cant change Buhar's mind