Senate calls for resumption of banking operations in Oron

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

This followed the stoppage of banking activities as a result of attacks on some commercial banks in the area.

Senate’s resolution was a sequel to a motion at 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 Eyakenyi Etim (PDP-Akwa -Ibom South)

Mrs 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 monies were not available.

This, she said, 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.

Mrs Etim 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 17 February, all banking operations had been suspended in the entire Oron LGA to date.

Mrs Etim, who is the deputy governor-elect of Akwa Ibom State, said the situation was worrisome, given the strategic roles that the banks played in commercial activities and the economy of Oron.

According to her, Oron LGA comprises five communities which include Mbo, Okobo, Udung, Uko, Urue, Offong/Uruko, and Oron.

Mrs Etim said it was worrisome, given the hardship orchestrated by the continuous shutdown of banks in the area.

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This, she said, was despite assurances by Nigerian Police that absolute measures had been put in place to control attacks on the bank and its staff.

Senate in its further resolution 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.

(NAN)