Afrigather 
Some Lagos residents have expressed their frustration and anger as they spend hours on lengthy queues with out having the ability to withdraw money by way of Automated Teller Machines (ATMs).
A NAN correspondent who monitored the event at some banks round Airport Highway, Ikotun, Surulere, Ejigbo and Oshodi-Isolo axis, reported that folks queued up for multiple hour to have the ability to withdraw as little as N2,000.
The state of affairs was the identical in nearly all financial institution branches on the mainland, whereas the utmost quantity paid was N20, 000.
The Central Financial institution of Nigeria (CBN) had ordered banks to load their ATMs with the brand new redesigned naira notes to make sure Nigerians have entry to it.
The brand new redesigned naira notes comprising N200, N500 and N1000, grew to become a authorized tender on Dec. 15, 2022, after they had been unveiled by President Muhammadu Buhari on Nov. 23, 2022 in Abuja.
The CBN had earlier fastened Jan. 31 as deadline for the gathering of previous naira denominated notes, however later prolonged the time restrict to Feb. 17.
The CBN Governor, Mr Godwin Emefiele, stated the extension was to permit Nigerians which have naira legitimately earned and trapped, the chance to deposit their monies for alternate.
A few of the prospects who spoke in separate interviews with NAN, known as on CBN to compel the industrial banks to dispense the brand new notes at their ATMs to ameliorate sufferings of the individuals.
Mrs Affiong Peters, who owns a provision store, urged the federal government to return to the help of the poor plenty.
“The shortage of the brand new naira notes has led to some individuals being hungry and never capable of feed their households due to their incapacity to withdraw cash from the ATMs.
“You’ll not imagine that I’ve been on this queue since 12 p.m., and it’s nearly 1.30 p.m., I nonetheless haven’t been capable of withdraw. Authorities ought to come to our support,’’ Peters stated.
Mr Owolabi Anjorin, a petty dealer, additionally known as on the apex banks to make sure the brand new notes had been in circulation.
“I used to be on the queue for one hour earlier than I may withdraw simply N10,000. if you weren’t a buyer of the financial institution, the place you had been to withdraw from, the ATM would solely pay you half of the quantity you needed.
“I feel this extension is okay, however allotting again the previous notes that prospects have deposited just isn’t serving to the difficulty at hand. So, if the apex financial institution can permit extra money in circulation, it is going to assist,’’ he stated.
Mr Andrew Louis, an electrician, additionally spoke in the identical vein, stated previous and new notes needs to be used concurrently until the brand new notes had been totally in circulation.
“ I’ve been right here for over an hour ready to withdraw my cash, after two individuals withdrew about N20,000, the ATM stopped allotting.
“Once we requested what went improper, the financial institution officers informed us that the cash had completed.
“That is annoying, in the event that they know that they don’t have the brand new notes to offer to us, it’s higher for them to nonetheless be amassing the previous one, whereas the brand new one remains to be coming as it’s presently not in circulation,’’ he stated.
Mrs Ofonime Udoh, a nursery faculty minder, known as on the apex financial institution to regulate its coverage on the brand new naira notes in addition to the withdrawal restrict, saying it was not in favour of the poor plenty.
“I went to the financial institution in the present day to make a withdrawal and I used to be informed that I couldn’t withdraw, however I may solely deposit; ATMs and banking halls weren’t paying.
“The reality is that many individuals are stranded, some are crying that they can not withdraw their cash, entrepreneurs and petty merchants will not be promoting as a result of persons are not coming to purchase.
“So, they need to assist us look into it and regulate the coverage for us, it’s not in our favour in any respect,’’ she stated. (NAN)
