Residents keep vigil in banks PoS operators inflate charges

CITIZENS COMPASS– AS a way of finding solution to the lingering crash crunch in the country, bank customers now keep vigil  at various Automated Teller Machine (ATM) stands across the country.

This is to enable them access the banks as early as possible.

Although the official time for bank workers is 8 but some customers have devices the means of finding their ways into the banks entrance as early as midnight.

Some go there with mats, camp beds, cartons, nylons and other items to enable them pas the night at the banks.

Some of the customers go the extra miles of sleeping on bare floor all in the bid to get solution to the scarcity.

Despite the hardship, some end up spending days in the bank as they can only withdraw maximum of N10,000 per day.

This was said to be common in Delta states.

Scarcity bites hide in Lagos


Our correspondents who went round some arts of Lagos State said Point of Sales (PoS) operators, have capitalized on the scarcity to inflate their charges.

the city of Lagos As early as 6 am on Wednesday, Nigerians have thronged various commercial banks in Delta State in search of Naira notes.

At Meiran Ijaye, a resident, Mad Florence Anibade said she paid the s.of N1,500 as charges on N5,000 withdrawal on Tuesday, February 21, 2024.

According to her, “I wanted to cook soup but there was no cash and I gave  my daughter my ATM card to withdraw N5,000 at a PoS stand.

Io my surprise, my account was debited with N6,500. We have never have it rough this way. “

she said.

In Ione of the Ikorodu suburbs, a family man simply identified as James was seen under the scorching sun going from one PoS operator to another but he could not get cash.

He told our Correspondent that he had been on the streets for about four hours but all the PoS operators he approached could not attend to his needs due to the scarcity.

In Surulere, some respondent said the impact of the scarcity has adversely affected them.

Landlords demand cash


Some home seekers in Lagos said in the course of seeking accommodations, some landlords in their requirement said part of the payment should be made in cash.

Similarlly, some tenants in Lagos said their landlords have been sending text messages that they (tenants) should made cash available for them (landlords) at all costs.

In Delta State, residents claimed that the situation has lingered on for weeks without respite.

Recall that Godwin Emefiele, the Governor, Central Bank of Nigeria (CBN), said the N200 old notes will be released into circulation.

However, residents said the scarcity is biting harder across the country.

Petty trades accept old N1,000, N500 notes


Across some markets, bus-stops and streets of Lagos, some petty traders were seen collecting the old N500 and N200 notes from customers.

A trader,  Adebisi Adunni said she decided to collect the old notes because of poor sales.

the new notes we don’t see, how do we make sales if we reject the old notes? “

she said.

Some bank workers told Citizens Compass on condition of anonymity that they now run shifts to meet up with customers’ demands.

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