The Edo State Governor, Mr. Godwin Obaseki, met on Thursday with officials of the Central Bank of Nigeria (CBN) and members of the Association of Mobile Money and Bank Agents of Nigeria (AMMBAN) to devise a strategy for cash disbursement. The meeting aimed to ease tension and alleviate the hardship Edo residents face in accessing the new naira notes. Governor Obaseki expressed regret over the protest and violence that erupted in Benin on Wednesday, which resulted in property destruction across the metropolis.
Highlighting that Edo State has more money agents than bank branches, the governor urged AMMBAN members to collaborate with the government and the CBN. He emphasized the need to improve the reputation of POS operators, stating that any members who overcharge customers should be dealt with through an internal regulatory mechanism. “You must first regulate yourself and your association before you can help address this shortage of cash issue,” he said. Obaseki also called on CBN officials to fund more POS operators with cash, requesting a doubling of their numbers to mitigate the cash shortage, especially since banks remain closed and POS operators are currently the only available outlets.
The governor attributed the riots to politically motivated arson, alleging that selfish politicians sponsored the attacks to create crisis and disaffection in the state. He condemned the opposition party’s tactics during electioneering, noting that similar disruptions occurred during his 2020 re‑election campaign. “The protest in the state yesterday was beyond anger; it was politically motivated,” Obaseki asserted, adding that security agencies are actively arresting those responsible for the destruction in Benin City. He assured the public that footage exists and that the perpetrators will be prosecuted.
Obaseki urged residents to support the Federal Government’s cashless policy, emphasizing that Nigeria is moving toward a cashless economy. “The push for a cashless economy has not been properly driven. As leaders, we must accept responsibilities and work hard to reduce the tension in the country,” he said.
In response, AMMBAN State Chairman Mr. Osaro Ekhator thanked the governor for the meeting and pledged the association’s support in finding a lasting solution to the cash crisis. He noted that the crisis had affected livelihoods and that many shops were burnt. Ekhator highlighted that the state’s new identity card system would simplify customer identification, and praised the street‑light project for improving business safety. He also commended the state’s recent fibre‑optic internet connectivity, which is vital for their transactions.
Renner Jumbo, controller of the CBN’s Benin branch, assured that the bank would release additional cash to POS operators to ease customer hardship. He explained that banks have been unable to open due to property damage, underscoring the critical role POS operators play at this time.
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