CUPP Spokesperson Seeks Sanction For Bank Managers Hoarding New Naira Notes

The  spokesperson of the Coalition of United Political Parties (CUPP), Ikenga Ugochinyere has opined that banks and their managers who are found to be hoarding new naira notes should be punished.

In a statement on Tuesday, Ugochinyere, a member-elect in the house of representatives, commended the CBN for finally obeying the order of the court.

“It’s commendable that the CBN in compliance with the rule of law directed deposit money banks operating in Nigeria to comply with the Supreme Court ruling of March 3, 2023, by accepting and paying out the old N200, N500, and N1,000 notes till December 31, 2023,” he said.

“Nigerian citizens are yearning for the best and should not be made to suffer more hardships

“Managers of banks who are found to hoard the new naira notes to create artificial scarcity, but are behind the public arena helping money-bag politicians to get the new notes, set the public up against the CBN’s new policy; such banks and bankers should be investigated, and if found culpable be made to face the wrath of the law.”