Ogun state traditional ruler begs Central Bank of Nigeria to facilitate commercial banks in community

The traditional ruler of Owode-Egba located in Obafemi-Owode Local Government of Ogun State, Oba Kolawole Sowemimo has passionately called on the Central Bank of Nigeria (CBN) to facilitate operation of commercial  banks in the community.

Penpushing reports that, Sowemimo made the appeal during an interview with journalists in his palace, adding that, the community has all what it takes to have commercial banks situated in the community located within one of the largest local government in Nigeria.

The royal father lamented that his subjects and other residents of the community are facing challenges in transacting business, alleging that number of operators of the Point of Sale(POS)  in the community make life difficult for banking customers, as they engaged in large withdrawal from the Automated Machine(ATM), of the only micro finance bank in the community and subsequently dispensed to customers with high rate commission.

Penpushing further reports that, Sowemimo declared that from authentic findings, majority of the Point of Sales(POS) points in the community are owned by the officials of the Central Bank, who prefers to give out money to the operators at the expense of the ignorant residents

The monarch argued that, the Point of Sales(POS) operators take advantage of non availability of commercial banks in the community, and charged high rate of commission whenever, such customers approached them to withdraw money

‘I can tell you that, the only micro finance bank in the community is being bombarded by operators of the Point of Sale(POS), who withdraws bulk cash to engage in their money transaction businesses,  development which made it impossible for other customers to get money from the Automated Machine’, he explained

Penpushing also reports that, he said at that level, customers are forced to approach the Point of Sale(POS) operators, adding that, the inconveniences on the part of the innocent citizens was becoming unbearable, hence need to have adequate commercial banks in the community before the situation gets out of hands

‘I am appealing to Central Bank of Nigeria to consider facilitating commercial banks in our community. We have all it takes to have commercial banks, be it population, landmass, we are even ready to provide free land. We have presence of Police, DSS and other security agencies’, he emphasized

Penpushing reports that, Sowemimo argued that, if Redeem Christian Church of God(RCCG) located in the same local government area, and has no one quarter size of Owode Egba, could be having up to eight commercial banks within its premises, there is no justification denying his community the same opportunity

‘I once wrote Baba Adeboye of Redeem Church to help us, but surprisingly his response was that we should wait for our doing, and indication that he is not ready to assist. If Redeem church could have about eight commercial banks in its premises, what is wrong for the entire Owode-Egba, located in one of the largest local government in Nigeria, could not have commercial banks situated there’, he said

The first class traditional ruler pointed that, Owode Egba community has over 30 neigbouring communities under its jurisdiction, and should be beneficiary of commercial banks situated there, stressing that where Point of Sale(POS) operators takes over money transaction business is uncalled for

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