Naira Scarcity: Customers excited as banks open for weekend operations

ECHONEWS 

In consent with the Central Bank of Nigeria’s (CBN) directive, most Deposit Money Banks (DMB) branches in Lagos opened for operations on Saturday.

Huge crowd of customers were seen with bank officials making efforts to meet their cash needs.

The banks were, however, dispensing the old Naira notes.

While a few of the banks had their Automated Teller Machines (ATMs) dispensing cash, others simply attended to their customers through the counters.

The Stanbic IBTC bank allowed for a maximum withdrawal of N30,000 through the counter, while the ATMs were not dispensing.

Some other banks like First Bank, Guaranty Trust Bank (GTB), United Bank for Africa (UBA), Union Bank and Unity Bank also had a large turnout of customers.

Some other banks like First Bank, Guaranty Trust Bank (GTB), United Bank for Africa (UBA), Union Bank and Unity Bank also had a large turnout of customers.

A customer expressed relief that the CBN had finally allowed the use of the old Naira notes till December.

“At least, between now and December all the stakeholders should have been fully prepared for the Naira redesign,” he said.

The News Agency of Nigeria (NAN) reports that the CBN had on Friday, confirmed the evacuation of banknotes from its vaults to DMBs across the country.

“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” he said.

He said that the CBN Governor, Mr Godwin Emefiele would personally monitor the compliance of the commercial banks to the directive.

He urged Nigerians to exercise patience as the current situation would soon ease off with the injection of more banknotes into circulation.

Source: NAN