New Naira notes scarcity stalls businesses in Kano

Published:

By Ismail Auwal

Frustrated bank customers have resorted to alternative methods of cash withdrawal as naira scarcity worsens.

While most banking halls were empty due to a lack of funds in bank vaults, large crowds had gathered outside some of the few banks that were presumed to be preparing to load their Automated Teller Machines.

A staff at Zenith Bank’s Bello Road branch told SAHELIAN TIMES that they waited all day on Wednesday for the funds that were supposed to be uploaded to their Automated Teller Machines, but it was all in vain.

Customers argued with bank officials at the Guarantee Trust branch on Murtala Road, who insisted that the branch had run out of cash around 7 p.m. on Wednesday.

Customers at the Sterling bank branch on Hotoro in the state complain that the machine only dispenses N2000 per transaction.

A customer who identified himself as Mustpaha asserted that withdrawing N20000 required ten separate transactions.

Customers lining up at the JAIZ Bank Hotoro branch, on the other hand, revealed that the ATM dispensed cash all day with only a few breaks due to technical issues, which they said were usually resolved immediately.

SAHELIAN TIME’s checks across some Point Of Sale (POS) show that customers are only given N1000 per transaction, with only a few giving their customers N2,000.

And those who give a higher charge exorbitant fees.

Difficulty to access the new notes has continue to bite harder despite the Central Bank of Nigeria ( CBN) claimed that allocates N30 million new naira notes daily to each branch of banks.

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