CBN (Central Bank Of Nigeria) has debunked the rumor that is making the rounds on WhatsApp that it will shut down financial transactions from Thursday, February 28, 2023.
With the presidential election on its way, this will limit the way people move around. Not only that, all banks will shut their doors to customers at 1 p.m. on Friday instead of 4 p.m.
Even with the CBN’s denial, the rumor was still easy to believe because financial services have been frustrating this week. The most annoying part is that instant transfers that take two days, now take like forever. Bank apps on the other hand do not open. This makes customers stay on the queue at banks for a long time.
Frustration Of Nigerians Over Banks Offering Limited Supply
President Buhari recently ordered banks to issue 0ld N200 notes, while the new notes remains scarce. Due to scarcity, large crowd gathers at the bank with their little patience.
For instance, a First Bank Branch in Gbagada, Lagos, was stormed by a large crowd with a woman reportedly to caused a ruckus.
According to report, she has be been in the bank since 6.a.m. due to her expired debit card. This means she would need a new card and cash to survive during the weekend. After waiting for hours, she could not get hold of cash and card.
Another case happened at a GTBank branch in Lagos. It was reported that customers queued for hours just to collect N5,000 each. While others were lucky, others were unlucky to get cash as the bank stopped working at 1 p.m.
Some said they are traders and they have been trying to pay distributors with transfers, but to no avail. This is the reason why the bank is their only option.
Conclusion
People have however turned to POS terminals such as MoniePoint and OPay to get by even as the charges are doubled
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