It was a hellish experience for WikkiTimes’ USMAN BABAJI when he visited about seven banks in Bauchi metropolis to detail the hardship residents faced as the Central Bank of Nigeria (CBN) insisted it would not extend the deadline for the disposal of old naira notes.
In October last year, CBN revealed its plan to redesign the N200, N500 and N1,000 notes, adding the old ones would not be accepted as legal tender by the end of this month.
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Following its resistance, Nigerians have been trooping to banks to deposit the old notes and get the new ones which are in low circulation.
In Bauchi metropolis, customers are facing double jeopardy — depositing the old notes and not getting the new ones. They hopelessly queue up in front of cash-strapped Automated Teller Machines (ATMs).
Our reporter observes that there were insufficient funds in the machines, even as the apex bank pegged daily withdrawal to N20,000 per person.
At Firstbank, there are six machines but only two were dispensing funds as stranded customers groaned uncontrollably.
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At GTBank, WikkiTimes’ reporter was the 267th on the queue. He also clinched 232 at First Bank, as hundreds of residents lined up at various banks in the metropolis.
Jibrin Sallau, a United Bank for Africa (UBA) customer told WikkiTimes he had waited for a long hour at the bank’s ATM point but could not withdraw money.
“About N50,000 was withdrawn from one cubicle and the money finished,” Sallau said angrily, adding he was at the point for over three hours and may spend another couple of hours “just to withdraw N20,000.”
At Sterling Bank’s customer, Mohammed Adamu explained that he deposited old naira notes in the bank and demanded new notes, but the bankers told him to join queue at the “overcrowded”ATM gallery.
But he insisted that he needed money from the counter and he was offered old notes.
“He wanted to give me old notes again, but I refused. This refusal to extend the deadline is an anti-people decision,” said Musa.
He claimed that the few notes presently in the banks were made available a week earlier “because the banks were dispensing the old ones hitherto.”
At Access Bank ATM point, a customer, Mohammad Rabiu said his family would soon run out of food.
“Everyone wants to get what to take home but we could not,” he said. “What does that mean? To be sincere I am not happy. I must wait because the old notes are being rejected in markets and my home has no food. Foodstuff sellers do not collect old notes from us. This is injustice. If the new notes were in abundance, there would be no problem.”
Rabiu argued that the poor masses are bearing the suffering. “Have you seen any wealthy person or his son here? Have you seen a son of the president here, have you seen a son of a governor or senator or any lawmaker here? You can’t even see a son of a local government chairman here. They just make a phone call and the new notes would be taken to their home. The suffering is ours.”
He called on the authorities, to as a matter of urgency, look into how their policy is suffering Nigerians.
“If they know that they are pro-masses leaders, they should immediately address this problem deliberately created.”
BANKS DECLINE COMMENTS
Efforts to speak to managers of the banks our report visited proved abortive as they said they were not authorized to speak to the media.
“We were not authorized to speak to the media,” the manager of the First Bank who also declined to reveal his name stated. At some banks, access was not given to see the managers. Also, emails sent to them were not responded to.
