Former Ogun State Governor, Olusegun Osoba, has disclosed President Bola Tinubu’s upcoming move to sign an executive order aimed at discouraging Nigerians from storing cash at home.
In an exclusive interview with Arise TV, Osoba disclosed that the order is designed to prompt citizens to deposit their concealed funds in banks, addressing the ongoing cash scarcity.
“During my discussion with President Bola Tinubu on Christmas Day, he disclosed to me that he is preparing a document to encourage Nigerians to bring out hidden funds that are currently out of the banking system and causing cash scarcity,” Osoba said.
This revelation surfaces as Nigerians grapple with challenges in accessing cash, prompting concerns about the nation’s financial landscape. The Central Bank of Nigeria (CBN), in December, reiterated the continued validity of both old and new naira notes beyond December 31, 2023.
Despite the CBN’s assurance, a scarcity of naira and cash crunch persists in certain states.