• Tuesday, July 16, 2024
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BusinessDay

Customers suffer in long queues for insufficient cash

Banking services customers prefer in Nigeria

Customers on Friday queued under the sun waiting to withdraw cash from the Automated Teller Machines (ATMs) as banks pay insufficient amounts.

Our correspondents visited some banks, in Lagos and found that banks which collected cash on Thursday evening following new directive from the Central Bank of Nigeria (CBN), commenced payment on Friday morning.

Access Bank stopped paying at 11am, Fidelity and Zenith bank were paying till 12.15pm.

Read also: Naira still scarce despite CBN’s new directive

“I want to see the customers care because I want to close my account. This suffering is too much, “one customer said.

The CBN had asked deposit money banks to withdraw the old notes deposit in their branches and dispense to customers to stimulate the economy.

The CBN’s new directive came after the Nigeria Labour Congress (NLC) directed all workers to picket all branch offices of the CBN nationwide starting next week over the current naira scarcity across the country.

Investigation showed that as of the close of work on Thursday, two banks had collected cash from the CBN but small volume. One of the banks collected N20 million to be distributed across its branches.