Awka Residents, Environs Besiege Banks As Shortage Of New Notes lingers

Following the thirty-first January deadline for the currency swap by the Central Bank of Nigeria, for the old naira notes of two hundred, five hundred and one thousand naira, residents of Awka and environs have besieged bank offices in Awka.

ABS news crew visited banks located at Zik’s Avenue and Enugu/Onitsha expressway as well as Eke Awka market to feel the pause of residents on the Central Bank directive.

at the various banks visited, ABS gathered that most the customers came to the banks as early as seven in the morning but because of much crowd, malfunctioning of Automated Teller Machines and scarcity of the new naira notes, they could not withdraw the money they came for as at the time of filing this report.

At some of the banks,it was observed that bank officials were having a very difficult time trying to control their teeming customers, both those who came to deposit old naira notes and those who came to withdraw new ones.

Some of the bank customers, including Mr William Edozie and Mrs Uzoamaka Udichi,a pregnant woman, complained of how long they have spent in the banks in their quest to withdraw money without success.

Another customer who spoke off camera, said he deposited all his old money in the bank, went to Automated Teller Machine to withdraw new ones without success, lamenting how frustrating the whole process was and the scarcity of the new naira notes which he opined might be Central Bank of Nigeria’s way of introducing cashless economy.

He further expressed worry that if the Central Bank introduces cashless economy, it would adversely affect uneducated aged people in the rural.

Some point-of-sale operators who spoke to the ABS, including Happiness Obodoeze and Adaku Chukwuneke, complained of the inability of the banks to give them enough new notes for their businesses which they said is affecting them negatively as their customers are now rejecting old naira notes.

At Eke Awka market, ABS gathered from buyers and sellers that they still transact business with the old naira notes because of the scarcity of the new naira notes.

A trader at Eke Awka market, Sir Charles Aneriobi, disclosed that based on the Central Bank’s directive, the leadership of the market visited some of the banks and they gave them assurance that they will be open for business this weekend to receive old naira notes but not for full day and he encouraged Eke Awka traders to still receive old notes from their customers as they still have the weekend and Tuesday next week, to deposit to the bank.

Some of the traders, including Elder Christopher Nwafor, Mr Nwokoye Emmanuel and Stephen Chukwunonso, wondered if they refuse to collect old notes from their customers, how they would sell their wares and appealed to the federal government to extend the deadline for the usage of the old notes as well as increase the amount of new naira notes in circulation so it will get to everyone.