HOME ABOUT US CONTACT US ADVERTISE WITH US
Thursday 23rd of March 2023 11:22:10 AM
Loading...
Breaking News
1   Ex-Terrorists Negotiator, Tukur Mamu, Arraigned         2   Naira Scarcity: FG Urged To Save SMEs         3   Polls: ICPC Officers Rescue, Arrest Suspected Vote Buyer In Issele-Uku         4   As NHRC Tells Police To Arrest, Prosecute Electoral Law Violators         5   PDP Wins Seven Assembly Seats Out Of 11 In Bayelsa        
☰

HOME / News / Business
Scarcity Of Cash, Bad Network Frustrate Bank Customers In Delta
Published Mar 23, 2023 IN News, Business,
40         0
Please Share:


 BY CHIKA KWAMBA

RESIDENTS of Delta State, especially Asaba, the state capital, are now enmeshed in the struggle to get few available naira notes as most commercial banks are faced with a shortage of cash in circulation, coupleD with network issues.

This is coming about 48 hours after he Central Bank of Nigeria (CBN) succumbed to the Supreme Court verdict that extended the legality of the old naira noes of N1, 000, N500 and N200 notes to December 31, 2023.

Our Correspondent, who monitored activities in commercial banks in Asaba, yesterday, observed that most customers were still stranded and facing scarcity of cash due to non-availability of cash at the banks and communication network problems. It was observed that out of about 20 banks in the city, only four were dispensing cash, either through ATM or over the counter. In banks, where cash was available in the Automated Teller Machines (ATM), long queues of customers were seen waiting patiently for their turn, as the machine was not working effectively due to network problem.

Some of the customers, who spoke to our correspondent on ground of anonymity, said they waited for hours before making withdrawals, through the ATMs, even as they lauded the CBN for the window of opportunity to get cash, yesterday. One of the customers said: “We call on CBN to come to our aid in the circulation of both old and new naira notes to enhance businesses in our environment. Also, it will ensure smooth gubernatorial election, which is a major focus of the federal and state governments come March 18, 2023”.

Another customer, who simply said “I am a government worker”, averred that “only a few banks have complied with the CBN orders; but are crowded here (in one of the banks), while others are empty due to network failure and shortage of cash”. Another an unidentified client observed that: “The maximum cash withdrawals by most banks was only N10,000 for bank customers, while other bank customers are getting N5,000 only”.

Efforts to comment from an official of one of the banks proved abortive as the entrances were over crowded by desperate customers struggling to get money.

Recalled that apex bank on March 13, 2023, gave out directives in a statement titled “Old N200, N500, and N1, 000 banknotes Remain Legal Tender – CBN’,

Stated that “the CBN met with the Bankers’ Committee and directed that the old N200, N500, and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023”.

Read also
NEWS
Guber Election Oborevwori Dedicates Victory To God
Mar 21, 2023
Naira Scarcity: FG Urged To Save SMEs
Mar 23, 2023
Policemen Shot Dead At INEC Collation Centre
Mar 21, 2023
Polls: ICPC Officers Rescue, Arrest Suspected Vote Buyer In Issele-Uku
Mar 23, 2023
As NHRC Tells Police To Arrest, Prosecute Electoral Law Violators
Mar 23, 2023
PDP Wins Seven Assembly Seats Out Of 11 In Bayelsa
Mar 23, 2023
Election: Six Missing As Gunmen Attack INEC Officials In Kogi
Mar 23, 2023
NDLEA Operatives Reject N1.2m Bribe, Intercept 367kg Cannabis Sativa
Mar 23, 2023
2023 Polls: PDP Leads In Delta Governorship Election
Mar 23, 2023
We’ll Sue INEC Over Omission Of Party’s Logo — NNPP Cross River Guber Candidate
Mar 23, 2023
BUSINESS
BEDC Holds Customer Engagement Forum In Asaba
Mar 23, 2023
Airtel Introduces E-SIM Into Nigerian Market
Mar 23, 2023
Mikano Motors Debuts Maxus T60 Pick-Up Vans
Mar 23, 2023
Fuel Scarcity: NMDPRA Calls ‘Planned’ PMS Price Hike, A Mere Rumour
Mar 23, 2023
Old Naira Notes: Business Operators In Edo, Delta, Bayelsa, Happy With CBN’s Compliance
Mar 23, 2023
MTN To Boost 5G Adoption With Smartphone Financing
Mar 23, 2023
SEC Promises Better Tech Adoption At NSE
Mar 23, 2023
Burger King Expands Nigerian Operations
Mar 23, 2023
Sanlam Life Insurance Pledges Better Services
Mar 23, 2023
Comments
Make a comment