THE Central Bank of Nigeria has been urged by the Senate to work with commercial banks in the Oron Local Government Areas of Akwa Ibom State to commence operations after the areas’ banking activities were suspended.
A motion at the plenary today titled “Urgent Need for CBN to Liaise with Commercial Banks to Resume Operations in Oron Local Government Area of Akwa-Ibom State L” led to the Senate resolution.
Sen. Eyakenyi Etim sponsored the motion. (PDP-Akwa -Ibom)
In her presentation, Etim stated that the CBN’s cashless policy and redesign of the naira had resulted in a cash shortage, causing bank customers to rush to the banks in search of cash—which they were unable to find.
This, according to her, led to some incidents where angry bank customers fired bank employees and in some cases physically attacked bank employees because there was no money available for distribution.
She added that “Oron was one of the places where protesting, irate customers caused a commotion in banking halls.”
She noted that according to the statement made public by the Nigerian Police, the agitation had been peaceful up until hoodlums hijacked it and attacked banks in Oron and looted homes.
She added, “Since the incident occurred on February 17, all banking operations have been suspended in the entire Oron LGAs to date.
“The situation was worrisome, given the strategic roles that the banks play in commercial activities and economy of Oron nation.”
According to her, Oron communities are comprised of five Local government areas which include Mbo, Okobo, Udung, Uko, Urue, Offong/Uruko, and Oron.
Etim added, “it was worrisome given the hardship orchestrated by the continuous shutdown of banks in Oron, despite assurances by Nigerian Police that it has taken punitive measures and absolute control to avert any attack on the bank and its staff.
“Senate in its further resolution directed its Committee on Banking, Insurance, and other Financial Matters to investigate suspension of banking operations in some parts of the country.”
