A Coalition of Civil Society Groups (CSOs) has made good threats to picket commercial banks allegedly compromising the circulation of the new naira notes across the country.

Among the banks visited by the protesters includes UBA, First Bank, and Union Bank among others.

The group also alleged that economic saboteurs who are opposed to the reforms of the Central Bank of Nigeria are behind the hardship being faced by Nigerians in terms of accessing the new naira notes.

“As the conscience of the society, we rise to warn those involved in the sabotage effort to desist and join hands in ensuring that the extension given will be well utilized. We will not hesitate to shut down any bank henceforth fingered in this sabotage process,” the group led by Bassey Etuk noted.

Defending the policy, the CSOs said the mere fact that it has been 19 years since the redesign of the naira notes, should ordinarily warrant the current action.

“From the time of the introduction of the new naira notes, we have seen saboteurs working against the policy via several collaborative efforts to derail the entire process,” it stated.

According to Etuk, the initial deadline of 31st of January 2023 for deposits of the old currency and exchange for new notes has been severally attacked and sabotaged by several classes of people having illegitimate lump sums at home.

He assured that the change of currency as done by CBN will no doubt improve on the monetary policies of the Bank aimed at tackling inflation and stabilizing the economy.

He also wondered that while the generality of the people embraced the policy, they are shocked to observe that the ruling class and a section of the country are opposed to it and fighting it shamelessly without an iota of patriotism for the country.

“We have noted the sabotage role played by some of the commercial banks, hoarding of the new naira notes is now a norm to corrupt bankers and their allies.

“Just last week, the coalition of civil society groups held sensitization rallies in all the states as part of our advocacy programs where-in we gathered that despite efforts made by CBN to make the new currency available, the banks are diverting it to preferred customers at the expense of the masses that want to comply with the currency swap regime.

“Visits to banks revealed that no new naira notes nor is it available at their ATM machines. We gathered here today to thus appreciate the human nature of the CBN Governor by alluding to the extension of the currency swap period for another ten days.

“This we applaud and deeply appreciate as it will give more windows for the law-abiding citizen to comply as well as make the circulation more pronounced. We hereby use this medium to send a strong warning to the Banks whose aim is to further connive with enemies of the state to sabotage this great window given for masses to do the needful,” Etuk warned. (Daily Independent)