Currency
Naira: Banks still hoarding cash, customers stranded
Despite the Supreme Court ruling over old and new naira notes, commercial banks in some Federal Capital Territory (FCT) satellite towns had not yet begun accepting cash payments, leaving customers stranded and angry.
According to a newsmen correspondent who observed banks in Nyanya, Mararaba, and Karu in Abuja on Tuesday, none of the banks have begun paying customers in person or using ATMs (ATM).
The old N200, N500, and N1000 banknotes were still considered legal tender until December 31st, according to the apex court, which overturned the ban on their use on Friday.
Security guards are still stationed at the gates of the banks, barely allowing the throngs of disgruntled clients to enter the banking hall one at a time.
Some of the customers who spoke with newsmen said the current development in banks was frustrating.
A customer seen at Zenith Bank, Mr Isa Abdullahi, said: “I have been here since 10 a.m. and this is 3 p.m. to complain about some failed transactions but I was refused entry.
“The crowd here is discouraging. They are not even listening to anybody here.
“Some people said that after the Presidential and National Assembly elections, the Naira will be released everywhere but that is not the case.
“We are suffering so much in this country. You will have money but you cannot access your money,” he said.
Also, Mrs Angel Abiodun, another customer at the First Bank, Karu road described the situation as annoying.
“I am helpless. I came to my bank to complain about my expired ATM card and also to collect some cash but I was not allowed in.
“If I knew that the situation will turn like this, I wouldn’t have deposited all my money in the bank even when they told us to take our old notes to the bank.
“The Central Bank of Nigeria (CBN) should do something and save us from this mess,” she said.
Also, some PoS operators also confirmed to newsmen that the new Naira notes were still scarce.
A POS operator, Gami Johnson, said: “I wonder what is happening. We are yet to see the old or new Naira”.
The CBN is yet to respond to the apex court judgment on the old notes.
