Naira Scarcity: Long queues gradually disappear as ATMs dispense more cash

Uyai-Abasi Etido

Long queues have gradually disappeared at banks in Ado-Ekiti, Ekiti State following the evacuation of more banknotes by the Central Bank of Nigeria (CBN) into commercial banks.

NEWSTODAYNG recalled that CBN confirmed the evacuation of bank notes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of the banknotes of various denominations.

The apex bank also directed all commercial banks to open for operations on Saturdays and Sundays, adding that a substantial amount of money, in various denominations, had been received by the commercial banks.

The CBN had directed all banks to load their Automated Teller Machines (ATMs) and conduct physical operations in the banking halls through the weekends.

Meanwhile, a correspondent who monitored some of the banks in the metropolis to check compliance reported that the long queues drastically reduced, not all bank ATMs were dispensed, and banks only paid customers who were account holders in their banks.

Olatunde, a transporter, who expressed joy that the long queues were gone, urged the apex bank to supply banks with enough cash for everyone to access adequately.

“I use Access Bank, but because I heard UBA was paying, I had to stop over to withdraw, but on getting here, I am told that I have no business being here because they only pay to their customers, and it’s N20,000. This is not good,’’ he said.

Ifechuckwu, a secondary school teacher, urged the apex bank to ensure enough cash was moved to commercial banks and made accessible to everyone.

“The CBN should monitor the banks and ensure they comply; the typical Nigerian banks that I know would start well now and do something else in the coming days,’’ she said.