Buni wants banks to open more branches in Yobe as a result of the naira makeover.

Yobe’s governor, Mai Mala Buni, urged commercial banks to open more branches in the state on Monday to facilitate business transactions.

During the inauguration of 50 Point of Sale (POS) devices given to the state by the United Bank for Africa (UBA) to improve revenue generation, Buni made the appeal in Damaturu.

More branches being opened throughout the state, he claimed, would promote banking among rural residents.

In Yobe, there are just four banks among the 17 local governments. Numerous members of our population are either farmers or pastoralists who prefer to store cash instead than using banks for financial operations.

The governor replied, “It is about time you expanded your operations to include the remaining local government regions.

Buni observed that the Central Bank’s Naira Redesign program would have been more successful if banks had more branches for mopping up old money.

I implore banks to increase policy awareness-raising efforts and come up with an easy way for consumers to exchange their old notes for new ones before the deadline of January 31, 2023.

The governor praised UBA for the gift, saying that it will make it easier to pay taxes and collect them.

Buni expressed his gratitude to commercial banks and other development partners for helping the government carry out policies and programs that directly affect the lives of the populace.

Alhaji Abatcha Geidam, Executive Chairman of the Board of Internal Revenue, promised that the devices will be used wisely in his speech. (NAN)