From Timothy Olanrewaju, Maiduguri
Borno State has planned to establish financial centres in the 27 local governments of the state where people can change their old naira notes to new ones ahead of the January 31 deadline by the Central Bank of Nigeria (CBN).
State governor, Babagana Zulum has already directed the State Ministry of Finance, Higher Education, Science, Technology and Innovation to establish branches of Microfinance Bank and ICT centre to facilitate speedy exchange of old naira notes with the new ones.
Zulum spokesman, Isa Gusau in a statement on Thursday, said the governor announced the microfinance intervention in Maiduguri at an extraordinary stakeholders meeting in Maiduguri on Wednesday.
The governor said banking services are currently available in only two local governments; Maiduguri and Biu, as insurgency has destroyed banking facilities in other areas. He therefore directed the state microfinance bank to open branches
“Despite a great improvement of the security in Borno, there are still challenges for banks to start operations. Banking is a very delicate industry and I am sure none of them is willing to take the risk of establishing branches in our LGAs for now. Therefore Borno State Government has to take the risk,” he examined.
He expressed hope the intervention will assist the people to overcome the challenge of accessing fund and banking services.
The governor also directed the Ministry of Finance to develop a template to organize and ensure people in rural communities deposit their old naira notes before the 31st of January deadline.
“I have convened this meeting to discuss how our people in the villages can get easy windows of depositing their money to the bank accounts as stipulated in the CBN’s new policy,” he disclosed.
The stakeholders meeting was attended by the representative of the Shehu of Borno, Alhaji Abubakar Garbai El-Kanemi, members of the Borno State House of Assembly, Commissioners, Advisers, Local Government chairmen, political appointees critical stakeholders among others.