Naira Scarcity: Crisis Eases Up As Nigerians Now Have Access To Their Monies

The cash scarcity faced by a lot of Nigerians seems to be easing up with the new CBN directive to Deposit Money Banks since Friday last week.

WITHIN NIGERIA reports that activities in several banks are normalizing, with Nigerians now able to access their funds in various banks.

According to reports, queues and large crowds at banks have begun to fade as banks increased cash payouts to customers on Tuesday.

Vanguard informed this online news platform that most bank branches had enough cash to meet customers’ withdrawal needs.

It was discovered that four banks on Broad Street on Lagos Island allowed customers to withdraw up to N200,000, as opposed to the previous limit of N5000.

While FirstBank branches paid N10,000 to both customers and non-customers from ATMs, United Bank of Africa (UBA) paid N100,000 over the counter and N20,000 at ATMs to customers and N10,000 to non-customers.

The situation was slightly different at the Guaranty Trust Bank, GTB, where customers were paid N15,000 over the counter with a withdrawal slip.

On Tuesday, the situation was similar in Abuja, with banks having enough cash to meet customers’ withdrawal needs.

According to a bank employee who requested anonymity, the CBN has maintained the supply of cash to banks, which has relieved pressure on them.

It was also discovered that the majority of ATMs visited in the nation’s capital were dispensing mostly old N1000 and N500 notes, as the over-the-counter withdrawal limit in some banks visited was N500,000.

It was also discovered that the majority of customers who visited banks yesterday went to complain about issues related to the naira crisis.