As the January 31 deadline for the phase-out of old naira notes approaches, the country’s fresh currency shortage takes its toll on Nigerians.
The Speaker of the House of Representatives, Femi Gbajabiamila, has threatened to issue an arrest warrant for CBN Governor, Godwin Emefiele, for refusing to accept the House Committee’s invitation.
Commercial banks were compelled to close their ATMs in key cities such as Warri, Lagos, Abuja, and Benin on Thursday due to a lack of the new banknotes.
Deposit Money Banks have been experiencing a shortage of old banknotes as a result of the CBN’s demand that lenders only load fresh notes into ATMs.
ATMs in Abuja’s Central Business District, CBD, Kubwa, Gwarimpa, and Utako neighborhoods were not dispensing cash.
The same thing is happening in Ogun, Lagos, Warri, Port-Harcourt, and Benin as Nigerians struggle to get their hands on the new naira notes.
Israel Kona, a Lekki resident, said he couldn’t acquire the fresh note when he went to the bank on Thursday.
“Because of the huge demand for cash, most banks’ ATMs have been shut down, so I had to make an over-the-counter withdrawal to collect cash, but it was in old naira notes,” he explained.
Simon Oluwa, a Warri businessman, claimed he couldn’t buy anything at the Udu road market because he didn’t have the new notes.
He also stated that POS agents had abruptly stopped collecting old currency due to the difficulty in obtaining new naira notes.
“It’s exhausting, the condition Nigerians endure on a daily basis; several companies on Udu Road, even POS operators, have started refusing the old notes,” he remarked.
Mr Olawale Ayodele, an Ogun State citizen, expressed disappointment after going to major ATMs in Ota but being unable to find cash.
“I traveled about Ota until last night (Thursday) looking for cash at ATMs in this region but couldn’t find any. To be honest, the worry isn’t worth it. I won’t be able to withdraw my own money again?” He bemoaned.
Emeka Michael, an Abuja lawyer, revealed that ATMs in CBD, Garki, are not issuing cash.
“The situation is horrible, to say the least; I had to go numerous places within the CBD but did not see any ATM dispensing cash. “Honestly, ‘wahala’ is more than enough for this country,” he remarked.
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