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Banks Pay Old Notes, Struggle to Ration New in Ibadan

Banks Pay Old Notes, Struggle to Ration New in Ibadan

Long lines were seen inside the banking facilities as clients flocked to the financial institutions for transactions, according to the News Agency of Nigeria (NAN).

Also, it was noted that clients received outdated notes because fresh Naira bills were still being rationed to them.

According to NAN, most banks were open from 9:00 am to 4:00 pm, with patrons entering the banking hall in shifts to retrieve largely outdated notes.

Long lines of consumers waiting to withdraw money were observed at many places, and some of them expressed relief at receiving their money after months of shortage.

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As the CBN had followed through on its promises, bankers informed NAN that the Naira supply situation should gradually improve over the course of the next week and beyond.

Some of the clients informed NAN that they could have to endure more difficult times in the future due to the withdrawal restrictions on both old and new Naira notes.

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Olaniyi Olawuyi expressed his gratitude that banks were open on the weekend since it allowed him to withdraw money after several long months.

“I went to my bank for financial operations, and while I did use the ATM to withdraw some old notes and the cash limit is still N10,000, the best part was that there was no line at all.

Yet at other locations, there were noticeable huge lines of people waiting in front of the banking area and ATMs, according to Olawuyi.

There were lines as Adurayemi Ojeyemi went to withdraw money, but she was optimistic that the difficulty will pass eventually.

“I noticed lengthy lines in a few other banks, but I figured conditions would have improved since a few months ago.


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