Energy

Task Force Warns Osun Fuel Marketers Against Hoarding

By Web News 322

By Mojisola Oladele 

The Osun State Government Taskforce on Petroleum Price Monitoring has cautioned owners of petrol stations across the state against hoarding petroleum products to create artificial scarcity.

A statement by the Chairman of the Taskforce and the Chief of Staff to the State Governor, Mr. Kazeem Akinleye, noted that its surveillance across the state revealed that most filling stations are hoarding petrol products, thereby worsening the fuel supply situation.

Mr. Akinleye explained that the surveillance activities conducted in major towns and the state capital in the last three days had revealed  deliberate hoarding of fuel to create artificial scarcity.

The Chairman stressed that affected filling stations which are already listed as direct culprits have been directed to open up their tanks and dispense fuel to the members of the public.

Mr. Akinleye who urged marketers to be public spirited in their pricing of Petroleum products reminded them of the present harsh economic situation being experience by members of the public.

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Economy

Gov. Adeleke Calls for Sanctions Against Banks Hoarding New Naira Notes

By Web News 549

By Funmi Adekoya

The Osun State, Senator Ademola Adeleke urges the Central Bank of Nigeria, CBN, to sanction financial institutions involved in the hoarding of new naira notes.

Addressing CBN officials in his office, Governor Adeleke decried the increasing shortage of the new notes, explaining that, he has been deploying state networks to douse tension and ensure the safety of banks and the CBN state office.

The Governor said his intervention in the last few weeks had ensured that Osun state is saved from increasing conflict across some South Western states.

He however expressed displeasure over the current hardship citizens are facing, adding that, his government was ready to partner with the CBN for the currency swap.

Governor Adeleke advised CBN to act fast as the situation is getting out of hand, informing the team that, the state is sacrificing a lot to maintain peace.

Responding, the CBN state Director, Mrs Oluyemi Adeyemi commended the Governor for his proactive steps that have saved the state from naira-related riots.

Mrs Adeyemi said the apex bank is working effortlessly, to make the new notes available and has issued queries to some commercial banks who hoarded the new naira notes.

The meeting set up a monitoring mechanism between the state government and the CBN to ensure allocated new notes get to the populace.

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