Osita Okechukwu, a founding member of the All Progressives Congress (APC), has commended CBN Governor Yemi Cardoso for confronting the "banditry" of Deposit Money Banks (DMBs) in Nigeria. Okechukwu claims that these banks deliberately deny cash at ATMs, exacerbating financial woes during the festive season, particularly impacting Abuja and other cities. Source
He urges deeper scrutiny by Cardoso to address DMBs’ fault lines, which have previously stalled beneficial programmes and could derail President Bola Ahmed Tinubu’s Renewed Hope Agenda. The CBN recently fined DMBs N1.35 billion for their failures, which Okechukwu equates to economic sabotage, emphasizing the need for urgent reforms in Nigeria’s financial sector.
- Key Takeaways:
- Osita Okechukwu calls out DMBs’ detrimental practices.
- Calls for reforms to protect the Renewed Hope Agenda.
- CBN fined banks N1.35 billion for poor ATM cash availability.
What reforms do you think should be implemented in Nigeria’s financial sector to curb such practices? Share your thoughts on Lagos news, Abuja news, or the wider Nigeria news landscape.
