Cash swap: Supreme Court’s order relieve to Nigerians – Ex-ANAN president

By Ige Adekunle

Dr Samuel Nzekwe, former President, Association of National Accountants of Nigeria (ANAN), says the Supreme Court’s order will ameliorate the suffering of Nigerians.

Nzekwe said this while speaking with News Agency of Nigeria (NAN) on Thursday in Ota, Ogun.

NAN reports that the apex court had on Wednesday, granted an interim injunction restraining the Central Bank of Nigeria (CBN) from enforcing the Feb. 10 deadline on naira swap.

He described the judgement of the Supreme Court as a welcome development as this would reduce the untold hardship inflicted on Nigerians.

“Nigerians had gone through serious hardship in the past few days because of the cash crunch ravaging the country.

“The intervention of the Supreme Court was a welcome development that would reduce tension in the country,” he said.

The ex-ANAN president blamed banks for creating unnecessary scarcity of the new naira notes due to sharp practices within the banks.

Nzekwe noted that the public could not access cash from the banks due to sabotage by bank officials.

He urged the CBN to go back to the drawing board to work on the poor implementation of the new the policy in order to make it seamless.

Nzekwe also advised the apex banks to sanction erring banks and their officials to ensure sanity, and the success of the policy. (NAN)