How Banks Complained About Shortage Of Naira Banknotes In Kano State Commercial banks in Kano have expressed their concern over the way the...

 How Banks Complained About Shortage Of Naira Banknotes In Kano State

Commercial banks in Kano have expressed their concern over the way the central bank, CBN, has limited the issuance of Naira currency notes to them, stating that there is a possibility that there will be a shortage of currency notes.

Arewa Radio visited several banks including Zenith Bank, FCMB, Access and GT Bank located on Murtala Muhammad Road, where all of them expressed concern over the matter.

As a result of the low availability of naira notes, some banks have reduced the amount of money they allow to be withdrawn in the bank.

However, an employee in one of the banks asked to remain anonymous. He said that what he thinks can cause this problem is that people have reduced their deposits in the banks.

While the banks are facing these problems, there is no explanation on the reason for restricting the supply of naira notes to the banks from the central bank CBN.