Concern as ATMs fail to dispense new naira notes in Lagos, Ogun

Barely 24 hours after the extension of the deadline for the validity of old 200, 500, and 1000 naira notes, many Automated Teller Machines (ATMs) in some parts of Lagos and Ogun states failed to dispense either the old notes or the new naira notes, leaving scores of customers stranded.

While the commercial banks were collecting the old naira notes from customers at the counter, their ATMs were not dispensing either the old or new naira notes.

The banks were also not paying customers the new currency at the counter.

The Star recalls that the Central Bank of Nigeria (CBN), on Sunday, extended the deadline for the collection of old naira notes to February 10, 2023.

READ ALSO: Old notes: CBN, banks mop up N1.9trn, N900bn still with Nigerians

The CBN had fixed January 31 as the deadline for the validity of old N200, N500, and N1,000 banknotes.

The new naira notes became legal tender on December 15, 2022, after they were unveiled by President Muhammadu Buhari on November 23, 2022, in Abuja.

However, some of the ATMs monitored by The Star in the Sango-Ota area of Ogun State, on Monday morning, were not dispensing either the old or new naira notes.

The development was also the same in the Alagbado area of Lagos State.

The ATM points across the areas have since the early hours of Monday been taken over by long queues of people scrambling to get the new notes.

The Star