New Telegraph

Nigerians, POS agents beg banks to load ATMs with N100, N50 notes

As the deadline for the old Naira notes by the Central Bank of Nigeria (CBN) as legal tender end tomorrow, many Nigerians and businesses are at crossroads over the ongoing scarcity of the new Naira notes and also rejections of old Naira notes na-tionwide. Consequently, Nigerians are still battling and struggling to lay their hands on the new redesigned Naira following rejections of the old Naira notes by traders and business owners in the country.

With this, Point-On-Sales (POS) agents are calling on the Central Bank of Nigeria (CBN) to direct the banks to load the Automated Teller Machines (ATMs) with N50 and N100 notes so that they can remain in business and also alleviate the hardship being caused by the scarcity of new Naira in circulation.

Following the circular released by the banks that they would open for operations for Saturday and today, Sunday Telegraph findings showed lots of Nigerians besieging the banks to return the old Naira notes in quest of getting the New Naira notes, but they were disappointed as many of the banks still insisted that no new Naira notes were available and it’s better they dropped their old Naira notes and they will be called to come back later when the new Naira notes were avail-able in the vaults. Sunday Telegraph findings around Lagos metropolis showed that early in the morning yesterday, many POS agents in Isolo, Ejigbo and Ikotun and Ikeja areas defied the early morning downpour to besiege bank branches and ATMs machines in search of new Naira notes, but to no avail, as the banks officials kept on telling them, there was no new Naira notes in their possession.

Bank officials insisted that it was not their faults. To make matter worse, the ATMs machines were still not dispensing at all either old Naira notes or new ones, as the banks stated they were acting on CBN’s directive not to load old Naira notes and since there was no new Naira notes availabile, it’s better the ATMs machines remained empty. However, there was a drama that ensued in one of the fast food restaurants, Freddie’s along Bucknor road, in Jakande Isolo, when a customer after buying and eating her snacks decided to pay with N1000 old note and the attendant rejected it, saying it has already boldly placed a Notice on the front door (entrance) for customers that it was no longer collecting old Naira notes henceforth. Sunday Telegraph findings indicated that some business outfits have also already stopped receiving payments made using the old banknotes, a move that can have effects on the Nigerian economy. Shockingly, there were long queues of Nigerians and POS agents at many bank branches nationwide yesterday, thinking that they would get new Naira notes at the banks. Sunday Telegraph findings also gathered among the Nigerians that trooped out at the banks that their pastors have told them on coming to church today, they should not come with old Naira notes for offering during today’s service. There are indications that the worst is yet to come as the non-availability of the new Naira notes in circulation could be inimical for Nigerians and her economy this new week.

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