Old naira notes: Customers stranded as banks refuse to start cash payment

Commercial banks in some parts of the Federal Capital Territory (FCT) are yet to commence cash payment, leaving customers stranded and frustrated in spite of the Supreme Court ruling.

The News Agency of Nigeria (NAN) correspondent who monitored banks in Nyanya, Mararaba and Karu in Abuja on Tuesday, reports that none of the banks have started paying customers over the counter or via the Automated Teller Machines (ATM).

The Supreme Court had on Friday nullified the ban on the use of the old N200, N500, and N1000 banknotes, saying the notes still remain legal tender until December 31, 2023.

The gates to the banks were still being manned by security officials who barely permit the numerous customers with complaints to go into the banking hall in turns.

Some of the customers said the current development in banks was frustrating.

A customer seen at Zenith Bank, Isa Abdullahi, said: “I have been here since 10 a.m. and this is 1 p.m. to complain about some failed transactions but I was refused entry.

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“The crowd here is discouraging. They are not even listening to anybody here.

“Some people said that after the presidential and National Assembly elections, the naira will be released everywhere but that is not the case.

”We are suffering so much in this country. You will have money but you cannot access your money,” he said.

Another customer at First Bank in Karu road, Angel Abiodun, described the situation as annoying.

“I am helpless. I came to my bank to complain about my expired ATM car and also to collect some cash but I was not allowed in.

“If I knew that the situation will turn like this, I wouldn’t have deposited all my money in the bank even when they told us to take our old notes to the bank.

“CBN should do something and save us from this mess,” she said.

Also, some Point of Sale (PoS) operators also said the new naira notes were still scarce.

“I wonder what is happening. We are yet to see the old or new naira,” a PoS operator, Gami Johnson, said.

The Central Bank of Nigeria (CBN) has yet to respond to the Supreme Court judgement on the old naira notes.

The Star