CURRENCY SCARCITY; Otunba Rotimi Ajanaku Calls For Calm,Warns Against Violence Protest.

The Accord Candidate for House of Representatives in Ibadan North West/South West Federal Constituency of Oyo state, Otunba Rotimi Ajanaku has appealed for calm in the country especially within his constituency over the current cash crunch crisis in the country.

 In a statement during one of his campaign outing, situation which had been toeing a negative impact on many households and businesses since the central bank of the country begun its cashless cum naira redesigning policy had been triggering avoidable protest in different parts of the country including ibadan, oyo state. Many banks in the city and different parts of the country had closed up after banks and its workers were becoming the major target of the irate protesters.  

Ajanaku, who has always stand by his people blamed the Federal Government of Nigeria and specifically the Nigerian Apex Bank, Central Bank of Nigeria for its chaotic Implementations of the new naira design. He called on the state government to provide improved security for banks to boost the confidence of bank staffs who are been experiencing some pockets of attacks by some angry citizens. 

Ajanaku appeal to the citizens to desist from destructive protests that will rather complicate the matter than resolving it. According to him: "when banks are destroyed how do we access our money or when bank staffs are chased away from their banks who will attend to our banking issues? We should rather charge our displeasure to the government in a peaceful manner devoid of violence".  

While commenting on the naira redesigning policy, Ajanaku said, "prior to the Implementation of this policies, CBN ought to have ensure there is adequate cash available to meet the demand of the people. If it will be #20,000 ATM withdrawal per day, let our people have access to it without stress instead of wasting their precious time queueing at banks and ATM spots". 

Secondly, on the technology side, CBN cannot tell us they are not aware of various irregularities in the internet banking system of most Commercial Banks in the country. Issues of dispense error, poor internet services, incomplete transactions which can keep financial transactions hanging for days, and many more along that technology inadequacies are issues they ought to first standardize before this cashless stuff. CBN could have find a means to first charge and assist Banks in improving the internet banking sector which will enable our people to enjoy a seamless internet banking experience and others along that line before pushing this policy further.

 "Everyday, you pass by a Bank, most people you see there are not depositing, they are there to either withdraw or lay complaint on transaction inadequacies, dispense error and other issues of internet banking". 

The idea of mopping up cash from circulation through currency redesign is not a bad idea but not putting the necessary processes and steps in place is the problem. The timing and implementation are faulty. They jumped the gun; the Country is now crisis.

 

He further appealed to the Electorates and the people of his constituency not to be frustrated by the policy, rather, remain focus on the forthcoming elections which according to him will usher in new set of leaders that will always look through policies along human faces before implementing it. He urged his people not to engage in any act that will give room for civil unrest or cancellations of coming elections. 

"The election is just in few days to come, let us all tame our anger and use our votes to speak at the poll".