Ogun State Controller of the Central Bank of Nigeria CBN, Mr Wahab Oseni has said that the apex bank has enough cash to disburse to all commercial banks in the state.
Mr Oseni gave the assurance when Governor Dapo Abiodun paid an unscheduled visit to the Abeokuta branch of the bank in view of the hardship faced by residents of the state over the lingering problem of cash scarcity.
The CBN Branch Controller said measures had been introduced to monitor commercial banks’ compliance with the disbursement ratio of 40% cash to money agents, 30% across the counter and 30% through the Automatic Teller Machine.
Mr Oseni who said Microfinance banks had also been added to the plan of cash disbursement across the country, gave the assurance that the situation would improve from Tuesday 7th February.
In a response, Governor Dapo Abiodun promised that members of his cabinet would be involved in the monitoring of the cash disbursement to prevent commercial banks or their agents from hoarding the new naira notes.
Governor Abiodun also appealed to residents, especially the youths to avoid any form of civil unrest, noting that such actions would amount to shutting down the economy of the state and could make things more difficult.
