Nigerian Senate on Wednesday asked the Central Bank of Nigeria, CBN, to direct Commercial retailing banks in Akwa Ibom that have closed shops for whatever reasons to reopen for business transactions.
The decision of the upper Legislative Chamber followed a motion raised by Senator Akon Etim Eyakenyi representing Akwa Ibom South Senatorial District, who explained that individuals and business community in the State are facing financial crisis due to the shut down of some commercial banks.
The female lawmaker in the motion specifically pointed out how banks in Oron Local Government Council which is a huge commercial nerve centre of the State were closed since February 23, as a result of bank customers protesting scarcity of banknotes at that time.
She said: “Despite the straight roles that those banks play in commercial activities and the economy of Oron nation comprising of five local government areas; Mbo, Okobo, Udunguko, Urue Offong/Uruko, and Oron.
She lamented: “Oron was one of the places where customers converged at various bank premises for several days without money to pay them, while the agitated customers protested and caused commotion in banking halls.”
According to her, the need to reopen commercial activities by banks have become necessary now that normalcy has returned to the financial sector, while expressing optimism that resumption of banks would revamp smaller businesses that went down during the harrowing period.
After Senators made contributions in favour of the motion, admitting that banks have serious challenges coping with customers, the upper Chamber adopted the resolutions.
In his remark, Senate President, Dr Ahmad Ibrahim Lawan directed the Senator Uba Sani-led Committee on Banking, Insurance and other Financial Institutions, to probe all the banks closed from 2010 till date in order for the CBN to strengthen the money deposit banks across the country as well as carry out thorough study on the causes of shutting the banks with a view to guiding against them.
