To beat the deadline for the stoppage of old naira notes, the Borno State government has established emergency microfinance banks in 25 of the 27 Local Government Areas of the state.
“The distance from most of the local governments to either Maiduguri or Biu is too long.
He continued, “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.” He said the state government had to, therefore, take the risk of opening branches of the state’s microfinance bank in the 25 local government areas to alleviate the suffering of the people of the state.
Governor Zulum also directed the Ministry of Finance to immediately come up with a template to organise and ensure people in rural communities deposit their old naira notes before the January 31 deadline. He also directed the Ministry of Higher Education, Science, Technology and Innovation to support mobile telecommunication providers towards improving their network coverage for internet connectivity across all 27 local government areas.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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