Student Village Academy Forums VILLAGE POLITICS AND CURRENT AFFAIRS Trafficking of new Naira notes

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       Is redesigning of Naira notes the right step to be taken?
      IT is both appalling and shameful to hear so soon that some commercial banks are already aiding and abetting the hoarding and illegal sales of the newly redesigned Naira notes. What a country we belong!

      According to media reports, the Department of State Services, DSS, over the weekend arrested some members of an organised syndicate selling the new Naira notes in parts of the country. The DSS said some commercial bank officials were aiding and abetting the act. This somewhat confirms the persistent allegation by many customers of banks that some staff of banks collude with hackers outside to steal money from their accounts.

      Also last week in Port Harcourt, Rivers State, CBN staff had reasons to go into strong rooms of commercial banks to ascertain allegations of hoarding and other unhealthy conducts by some commercial banks, said to be making it difficult for people to access the new currency notes.

      It appears that the unleashing of the anti-corruption agencies, the Economic and Financial Crimes Commission, EFCC, and the Independent Corrupt Practices Commission, ICPC, on the banks by the CBN over information of hoarding and diversion of new notes, has started paying off.

      What more infractions could amount to economic sabotage and undermining of national security than these evil designs to derail the commendable cashless policy of CBN and President Muhammadu Buhari’s administration, aimed at reducing crimes and improving the country’s economy?

      The DSS plea with anyone that has useful information relating to these treasonable acts to pass the information to the relevant authorities, is also in the right direction.

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