The institute added that the widespread anger among Nigerians, as a result of the development, could pose a threat to the safe conduct of the forthcoming elections.
Speaking at a press briefing in Abuja on Friday, the Chairman, Board of Trustees of the institute, Mike Ntul, said with the intelligence at the disposal of the institute it would be dangerous to allow the widespread anger to continue.
He said, “Nigeria is becoming a troubled land. As the foremost security and safety institution in the country, we are not happy with what we are seeing today. We are appealing to the President and Governor of the CBN, Godwin Emefiele, to reconsider the issue. The election is a few days away and you have this widespread anger as a result of the hardship occasioned by the fuel and naira scarcity. We want a free and fair election, but things like these pose a threat to that.
“It would be dangerous to allow this widespread anger to continue. At this point, I must state that signals from our investigation and intelligence bureau on this scarcity are nothing to cheer about. It is dangerous to allow this anger to fester. I urge the president to as a matter of urgency to address the situation. He should prevent the country from burning and see this as an emergency.”
The Registrar of the Institute, Prof. Emmanuel Iyaji, said arresting bankers hoarding the new notes would not solve the scarcity experienced by Nigerians.
He said, “The arrest of bankers hoarding the new notes is not enough. It would only be a deterrence for those who might want to hoard. Let more of the notes circulate so people can be relieved. This and the fuel constitute a big threat to national security and must be urgently addressed.”
He also berated the attacks on banks and their staff, adding that the incidents might have lasting impacts on the sector after the cash crunch.
