Nigerians experience confusion as a result of the lack of new naira notes
Nigerians are feeling the effects of the new banknotes' shortage as the January 31 deadline tophase out old naira notes draws nearer.
As pressure mounts over the CBN Governor's unwillingness to accept the invitation from the House Committee, Speaker of the House of Representatives Femi Gbajabiamila threatens to issue an arrest warrant for him.
According to ONIKEWIDE, commercial banks were compelled to shut down their ATMs on Thursday due to a lack of the new banknotes in major cities like Warri, Lagos, Abuja, and Benin.
Due to the CBN's mandate that lenders should only stock their ATMs with the new notes, Deposit Money Banks have been struggling with a lack of old banknotes.
ATMs in Abuja's Central Business District, CBD, Kubwa, Gwarimpa, and Utako neighborhoods did not dispense cash, according to ONIKEWIDE.
The similar issue exists as Nigerians struggle to obtain the new naira notes in Ogun, Lagos, Warri, Port-Harcourt, and Benin.
Lekki resident Israel Kona claimed he was unable to obtain the fresh note when he went to the bank on Thursday.
Due to the high demand for cash, the majority of banks' ATMs have been shut down. As a result, he said, "I had to make an over-the-counter withdrawal to obtain cash, but it was in the old naira notes.
A businessman in Warri named Simon Oluwa claimed that without the new notes, he was unable to purchase anything at the market on Udu Road.
Additionally, he bemoaned the fact that Point of Sale, or POS, operators had abruptly ceased accepting the old currency due to the challenges in obtaining the new naira notes.
Nigerians must deal with this scenario every day, he added, adding that several Udu Road establishments have begun refusing to accept old notes, even POS terminals.
Ogun State citizen Mr. Olawale Ayodele expressed his frustration after visiting important ATMs in Ota but being unable to withdraw money.
I searched the ATMs in the region of Ota up until last night (Thursday), but I was unsuccessful. The tension is not worth it, to be honest. I am unable to withdraw my own money once more? He bemoaned.
A lawyer in Abuja named Emeka Michael revealed that the ATMs he used in Garki CBD did not dispense cash.
I had to travel to several locations within the CBD, but I was unable to find any ATMs that were dispensing cash. The situation is appalling, to put it mildly. For this nation, there is honestly "wahala" plenty, he declared.