The Central Bank of Nigeria (CBN), Rivers State branch, has blamed the scarcity of cash being witnessed in PortHarcourt, the Rivers State capital on individuals and POS operators in the state.
Mr. Ibiso Tom-George, the Acting Coordinator and Head Currency Management Centre, who received the Exco and other members of RIVPA, alongside his team on behalf of the Branch Coordinator, Engr. Kelechi C. Onuoha, on a courtesy visit, said that the inability of individuals and POS operators to return cash to the banks, made it difficult for banks to circulate cash as expected.
He noted that the volume of cash banks put at various ATMs are majorly collect by POS operators, who had several ATM cards with them, as well as going to filling stations and churches to collect the cash that were meant to be deposited in the banks for process and recirculation to customers.
On the rejection of Change of Name published in the local tabloids by banks in Rivers State, Mr. Tom-George noted that such mandate of rejection wasn’t from CBN, but from banks.
While promising to speak with the banks under their supervision over the issue, Mr. Tom-George urged RIVPA to channel their request to CBN headquarters, using the appropriate channels.
Speaking further on torn or mutilated monies that are in the hands of individuals or those rejected by banks, Mr. Tom-George opined that CBN has a designated unit that handles such issues and give back the changed torn or mutilated money back to the owner, where necessary.
The RIVPA team which include: Mr. Ifeanyi Evans Osi, RIVPA Vice Chairman and Publisher of Independent Monitor Newspaper; Mr. Austin Tanee, RIVPA General Secretary and Publisher of Weekly Watch Newspaper; Comr. Blaise Tochukwu Elumezie, RIVPA Organizing Secretary and Publisher of Nigerian MomentumNews Online & Magazine; Senibo Fynebone, RIVPA PRO and Publisher of Weekly Star Newspaper and High Chief Monday Wehere, RIVPA Steering Committee member and Publisher of Surveillance Newspaper and Dr. Iheanyi Ezinwo, Publisher of Notable Outcome Newspaper, was led by its Chairman, Hon. Gloria Boma Harry, Publisher of African Update Newspaper.
