“You cannot be selling cash. You cannot sell your currency to people for a profit at discounted rates. It is not done anywhere,” Oluwole emphasised.
He urged authorities to investigate reports of point-of-sale operators buying cash from fuel stations and supermarkets.
Oluwole concluded by reiterating that no bank deliberately withholds cash from its customers.
“No bank wants to starve its customers of cash. It does not make sense for any bank to hold on to cash, but you can only give what you have,” he said.
“As the cash crisis persists, stakeholders are urging the CBN to act swiftly to address these concerns and alleviate the strain on both banks and the public,” Oluwole stated.
Also, the National Coordinator of the Human Rights Writers Association of Nigeria, Emmanuel Onwubiko, in a statement criticised the CBN and its Governor, Olayemi Cardoso, for their mishandling of monetary policy, holding them responsible for the resulting widespread hardship.
He further highlighted how cash scarcity has left millions, especially in rural areas, unable to conduct transactions, pushing small businesses, artisans, and daily wage earners deeper into poverty.
“Nationwide, long bank and ATM queues have become the norm, with depositors unable to access their funds despite sufficient balances,” he added.
Onwubiko argued that the crisis reflects not just poor monetary policy but also deeper systemic issues within Nigeria’s economy.
He urged President Bola Tinubu to intervene swiftly to stabilise the banking system and avert economic collapse.
The group also called on the National Assembly to summon the CBN Governor for accountability and oversight.
