CBN indecision: Banks dry up on new naira notes

By Olumide David

Banks in Awolowo road, one of the longest street and the most populated street with bank branches in Lagos were found not dispensing cash yesterday.

Polaris, Gtbank, Union Bank, Unity bank, First bank, Heritage bank, FCMB, Access, wema, Fidelity, and Zenith Bank were not paying out cash to customers according to our reporter who observed a crowd of people in some of the banks listed earlier hoping to get cash.

While Jaiz Bank was the only bank on the axis dispensing but with N2,000 maximum of new notes being allowed to be withdrawn.

Mrs. Toyosi who spoke with Nigerian NewsDirect said she uses First Bank app and Access bank app and for three days, has been unable to access either of her accounts as a customer, “I’m hungry and tired, please we need a change as soon as possible,” she said.

Upon further findings by our correspondent in Bishop Oluwole Street, it was discovered that Optimus Bank was dispensing N3,000 maximum withdrawal for all customers.

Mrs. Margaret said, “Optimus bank suddenly stopped paying and we are hoping it begins payment as soon as possible.”

She further stated that she had been on the queue for hours hoping to withdraw, “as we are many and being numbered, but some people were not following the queue and number given and before it got to my turn, it stopped dispensing,” she retorted.

Security operatives were seen at the scene to coordinate orderliness and prevent breakdown of peace.

Survey by Nigerian NewsDirect reveals that banks have shut down payment of new naira notes or existing notes available had dried up.