Senate seeks resumption of banking operations in Akwa Ibom LGA

The Senate has urged the Central Bank of Nigeria (CBN) to liaise with commercial banks in the Oron Local Government Area of Akwa Ibom to resume operations.

This followed the stoppage of banking activities due to attacks on some commercial banks in the area.

Senate resolution was sequel to a motion at the plenary on “Urgent Need for CBN to Liaise with Commercial Banks to Resume Operations in Oron LGA of Akwa-Ibom.

The motion was sponsored by Senator Eyakenyi, Akon Etim (PDP-Akwa -Ibom).

Ms Etim, in her presentation, said the naira redesign and cashless policy of CBN had caused a cash crunch, resulting in customers rushing to banks for money, where the funds were not available.

She said this resulted in some incidents where bank customers, out of anger, attacked bank staff because of the non-availability of money to dispense.

She said Oron was one of the places where agitated customers protested and caused a commotion in banking halls.

Ms Etim’s said a statement by the Nigerian Police indicated that the agitation was initially peaceful until it was hijacked by hoodlums who attacked banks in Oron and destroyed property.

She said since the incident occurred on February 17, all banking operations in the communities in the LGA have been suspended in the entire Oron LGA.

In its further resolution, the Senate directed its Committee on Banking, Insurance and other Financial Matters to investigate the continuous suspension of banking operations in some parts, given incidents occasioned by issues relating to naira redesign and cashless policy.


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