…most banks were crowded with customers looking to get their share of naira notes
By Chioma Obinagwam
Most Deposit Money Banks (DMBs) in Nigeria have started issuing naira notes to their customers on weekends as directed by the country’s apex monetary authority, the Central Bank of Nigeria (CBN), in order to ease the cash crunch that had built up in the country.
Confiance News gathered that Guaranty Trust Bank (GTBank) opened most of its branches at the weekend to issue naira notes to customers.
Reacting, a customer at the Ojodu branch of the bank who pleaded to be anonymous, said,”They started paying since 10 O’clock in the morning. The banking hall is crowded. I’m waiting for my turn.”
Zenith Bank was also open to customers for withdrawals on Sunday.
Confiance News also learnt that First Bank paid its customers who were at the bank for withdrawals on Saturday.
However, some of the banks that were not open for business, stalked their Automated Teller Machines (ATMs) with cash to enable customers access cash via that channel.
Another customer queuing at the Union Bank ATM, Ojodu, who spoke under conditions of anonymity said,”They are paying their account holders a maximum of N20,000 whereas those who don’t have account with the bank can only withdraw N4000.”
Confiance News recalls that Nigerians have suffered untold hardship following the announcement of the deadline for the use of the old Naira notes as legal tender on January 31, 2023.
A situation which was exacerbated by the delay in implementing the Supreme Court ruling on the use of the old notes as legal tender till December 31, 2023.
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