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Banks confirm receiving more cash, load ATMs

Banks confirm receiving more cash, load ATMs

In an effort to replenish the economy following a protracted cash shortage that made life tough for millions of Nigerians and residents, the Central Bank of Nigeria has issued more old notes to deposit money banks.

The CBN has started releasing billions of naira to DMBs on Thursday. On Friday, according to bank officials, the CBN once more released to lenders many billions of naira.

It was reported how numerous bank branches opened over the weekend and distributed cash to their customers over the counter and through automated teller machines.

Some banks had emailed their clients to let them know they would be available for financial activities over the weekend, per the directive of the apex bank.

Read Also: New Naira Note Shortage Takes Toll On Nigerians

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Visits to banks’ branches in Lagos, Abuja, Ogun and other states revealed that most banks complied with the order of the CBN and attended to customers both in the banking hall and dispensed cash via ATM.

Most of the banks’ branches along the Oshodi-Apapa Expressway and Gbagada area of Lagos opened on Saturday and Sunday and subsequently dispensed cash to their customers.

The Access Bank branch at Sadiku Bus stop along the Oshodi-Apapa Expressway dispensed cash via its ATMS.

The United Bank for Africa branch at Oshodi, close to the expressway dispensed cash both in the banking hall and at its ATMs. Customers were able to get N20,000 over the counter.

The Access Bank branch next to it allowed its customers to get N20,000 while holders of other banks’’ ATMs got N5,000 only.

Fidelity Bank branch also at Oshodi expressway paid N20,000 inside the banking hall. Of its three ATMs, only one was dispensing, paying other banks’ customers N5,000 and its customers N20,000.

Banks confirm receiving more cash, load ATMs

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