Lately, Nigerians have been faced with lots of difficulties accessing cash from banks, ATMs and POS agents.
This is in line with the CBN governor’s order for commercial banks to stop loading old notes in their ATMs, and also for Nigerians to turn in all old notes with them to banks. It was broadcasted to the public with the assurance that the apex bank has enough new notes to meet public demands.
However, findings and comments from Nigerians suggests a contrary view. It is claimed by Nigerians that after making efforts to turn old notes with them to banks, the ATMs still end up dispensing old notes to them.
Furthermore, the POS agents find themselves in the same situation. People involve in this business tells of how the ongoing cash scarcity is affecting them as customers won’t collect old notes from them. Apparently, they also get their cash from banks and ATMs.
According to research and findings, some POS agents stated that their banks only had old naira notes. This however affected business since her customers already refuse to collect the old notes from them.
One of them in an interview with Nairametrics said;
“With the 31st January 2023 deadline already around the corner, Nigerians are sceptical about accepting the old notes, following the insistence of the CBN to uphold the deadline”.
What bankers are saying:
Some bankers who spoke to Nairametrics on Thursday, confirmed that they do not have new notes in their banks, and to avoid loading old notes inside the ATM, had to empty the machines.
Another staff from a different bank also stated that they stopped dispensing cash from their ATMs in other to maintain the directive of the CBN while noting that they are short of new notes in their branch.
Also read: CBN Stands On Its Old Naira Expiration Deadline
Conclusion:
With all the drama going on, most Nigerians wish for the deadline set by the CBN’s governor to be extended. However, the CBN has decided to stand on its old naira expiration deadline.
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