New naira notes: Rush as long queues of customers flood banks

News Agency Of Nigeria

January 27, 2023 6:15 PM

Long queues of bank customers have thronged Automated Teller Machines (ATMs) of banks at the Federal Capital Territory (FCT) to collect the new naira notes.

Nigeria's new naira notes

The News Agency of Nigeria (NAN) correspondent, who monitored banks in Abuja on Friday, reports that many customers were seen on queues collecting the new notes from the machines.

NAN also reports that the CBN had given Jan. 31 as the deadline for the use of the old N1,000, N500 and N200 naira notes.

At Access Bank Plc located at the Central Business District, few customers were seen at the banking hall depositing old naira notes while the ATM spot was filled with customers withdrawing the new notes.

Mr Benjamin Imashi, a customer, said that although there were long queues in banks, citizens should endure to enable the government to achieve their good aim.

On the extension of the deadline for the usage of the old notes, he said “we do not want any extension’’.

“The timeline for the old notes is only three days from now. We do not have to bother about that because we are suffering fuel crisis, inflation and they do not have timeline but this one has a timeline.

“We know that after Jan. 31, we will have all the currencies we need.

“We have to support the CBN and Mr President because without this, the people who have hoarded money for election and other purposes will still bring the monies into circulation and that is what the CBN is fighting against.

“We have to make sacrifices so that we can get what we want. We do not want CBN to extend the deadline.

“If you extend it, you are giving room for the money hoarders to bring the monies back into circulation and the intention of the government would have been defeated,’’ he said.

Mr Abdul Ishaka, a customer at Access Bank, said the bank’s ATM dispensed N20, 000 of the new notes to him.

Isaka who said he moved from one bank ATM to the other in search of the new notes, urged other banks to join in making the collection easier for customers.

Another customer at Access Bank, Mrs Helen Takun, said the queues were frustrating and discouraging.

“The CBN and banks should make the new notes available for the people.

“Why must people go through stress at every policy they want to implement? People are willing to utilise the new money but it should be made available with ease,’’ she said.

Mrs Angela Akatu, a customer at First Bank Plc, Central Business District, said she had stood in the queue for about an hour without collecting the notes.

She appealed to the CBN to disburse enough notes to the banks to reduce the stress faced by the masses.

A bank official, who preferred anonymity, said they were short of the new notes, adding that the bank was dispensing according to what they received from the CBN.

News Agency Of Nigeria