As the scarcity of the new Naira notes persists, the Human and Environmental Development Agenda (HEDA Resource Centre) has advised the Central Bank of Nigeria (CBN) to work on its new notes apportioned ratio policy and also to collaborate with law enforcement agencies in monitoring Agent Cash Swap operators and bank officials against irregularities in their activities.

Following the Central Bank directives, bankers committee on Wednesday issued a communique disclosing that the new Naira notes allocated to banks shall be apportioned in the ratio 40:30:30 for Agent Cash Swaps, Over-the-Counter and ATMs respectively.

Meanwhile, in a statement issued on Sunday by HEDA’s Chairman, Olarenwaju Suraju, the civil society organization maintained that it is essential for the apex bank to review the policy to address different circumstances to ensure the sufficient release of cash into the system.

According to Suraju, verified information gathered by the civil group indicates that some of the Agent Cash Swap operators are selling the new notes to party makers abusing the currency and also reselling to ordinary users, while bank officials are irresponsibly preserving cash for politicians and bank owners.

He further charged the CBN for the policy review to consider Lagos and other metropolitan states by making more money available in banks to reduce the pressure.

Suraju added: “The ratio should be reviewed to address different circumstances. Lagos and other metropolitan states should have more money through ATM and counters while rural areas can have more through the strictly monitored agents.”