Governor of Osun State, Ademola Adeleke, has warned commercial banks in the state against keeping the old currency and hoarding the new naira notes.
Adeleke lamented the people's suffering as a result of the CBN's currency redesign policy in a statement released on Wednesday by Olawale Rasheed, the governor's spokesperson.
In addition, Adeleke urged all parties involved to reach a consensus in order to end the current difficulties.
The governor lamented that the old currency was not accepted, and he pleaded with banks to show compassion by either making the new notes available or continuing to accept the old currency.
"I am pained by the current hardship inflicted on our people," Adeleke says. Life has deteriorated into a nightmare. Unimaginable hardship is being experienced by all segments of society. I appeal to the heads of banks to show mercy to the poor, middle class, and even the wealthy.
If we continue to accept old notes, we must provide the new naira notes. Even when citizens do not commit a sin, we must stop punishing them.
Adeleke cautioned against encouraging citizens to rebel against the government through unfair policies and actions while urging banks in Osun to be humane.
Additionally, he insisted that the people's demands for the new notes be met by the state's banks.
"That policy must be reversed by those banks that have stopped receiving old notes. He lamented, "Our people are being pushed to the limit."
The majority of banks in Osogbo, the State capital, have temporarily ceased operations due to a lack of the redesigned of N1,000, N500, and N200 notes.
As a result, customers are now at the mercy of POS operators, who charge between N250 and N200 per N1,000.
Additionally, a lack of cash to provide to their numerous customers has led to the closure of numerous POS operators' businesses.
According to Lagos Local News, despite the banks' closing, customers have continued to line up in front of Automated Teller Machines (ATMs) for extended periods of time in the hope of receiving cash for the day's activities