Ogun assures bankers of adequate security, urges reopening of financial institutions 

By Kolawole Olayinka, Abeokuta

The Ogun State government on Wednesday assured bankers of adequate protection while promising to continue to engage the Central Bank of Nigeria (CBN) in proffering lasting solutions to the issue of cash shortage. 

Commissioner for Finance and Chief Economic Adviser to the state government, Dr. Dapo Okubadejo, gave the assurance during a meeting with the Bankers Committee in his Oke Mosan, Abeokuta office.

This was a follow up on the meeting earlier held between the group and the state governor, Prince Dapo Abiodun, on Monday, where the governor extracted commitment from the bankers to adequately dispense cash to the public. 

Okubadejo, moved with the determination to address the scarcity of the naira notes, said the situation is hampering economic activities in the state and that the government is fully prepared to forestall any destruction of banking facilities. 

With an assurance of improved security across all financial outlets, the commissioner said the incident involving the destruction of some bank’s Automated Teller Machine (ATM) was as a result of frustration caused by the unavailability of cash to the citizenry.

He revealed that the state governor had earlier held a meeting with the Controller of the Central Bank of Nigeria in Ogun State, Mr Wahab Oseni. 

Okubadejo reiterated that the state would continue to encourage peace and protect lives and property, charging residents to exercise patience as the crisis would soon be a thing of the past, as well as desist from attacking banks and bankers. 

Okubadejo, who also noted that the state government is always ready to provide adequate security across the state, said the onus lies with the banks to furnish the populace with new naira notes. 

In his remarks, the leader of the Bankers’ Forum, Mr. Adeniran Oladele appreciated the state government for its responsiveness.

He explained that the meeting earlier called by the state government with the CBN had positively reduced the impact of the crisis.

He revealed that the crisis was caused by misinformation which led to the banks losing revenue as a result of the closure. 

He advised on aggressive sensitisation of the general populace on the availability of the naira notes, saying it will go a long way in reducing public unrest.