By Olaolu Fawole, Anjola Agboola, Tawakalt Famiyiwa
Scarcity of new naira notes of 200, 500 and 1000 has been biting harder in Nigeria, since the introduction of the redesigned naira notes by the Central Bank of Nigeria, CBN.
Radio Nigeria Correspondents, who monitored the situation in Ibadan, on Monday, said withdrawal from commercial banks’ ATMs had become tug of war, as customers struggled to be alloted numbers in a piece of paper, before joining the long queues to withdraw money.
At few minutes past ten in the morning, the last alloted number at a commercial bank at Dugbe, Ibadan was 275, while the person currently using the ATM had number 25.
At another commercial bank visited, the only functional ATM stopped dispensing money after only being able to dispense money to eight people out of over sixty people alloted numbers.
Also, bank customers who wanted to transact other businesses, such as withdrawal across the counter, electronic money transfer, deposits and opening of bank accounts, transfers and the likes are not left out in the latest development.
Bank officials had to bring forms outside the premises to customers who wanted to transact businesses inside the banking hall.
However, the withdrawal limit across the counter is two thousand naira only per individual.
The reason for this, according to one of the bank officials was that the banking halls were already overcrowded.
The concern of Nigerians is for commercial banks, to allow them have access to their accounts, as it is just four days to the deadline given by CBN that the old naira notes would cease to be a legal tender and the country is still experiencing scarcity of the new notes that are expected to take over fully by February 11, 2023.
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