Amidst the recent cash crunch that led to the untold hardship and loss of some lives across the country, fresh cash scarcity seems to have been resurfacing as residents lament lack of cash from most ATMs of major commercial banks in Abuja the Federal Capital Territory.
In an interview with a cross section of commuters and residents along the Asokoro District in Abuja, The News Chronicle gathered that the Automated Teller Machines of most commercial banks around the area were not dispensing cash to customers.
Recall that the Central Bank of Nigeria had on Wednesday November 15th 2023 issued a statement allowing Old Design Naira Banknotes as Legal Tender, Ad Infinitum. The Apex bank stated that the decision is line with international best practices and to forestall a repeat of earlier experiences.
The decision by the CBN is to clear the air on the naira following a March ruling by the Supreme Court that asked the CBN to allow old N200, N500, and N1, 000 notes to continue as legal tender till December 31, 2023, after the bank announced a new naira design policy and expiration dates for the denominations.
“The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes. Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions.” The statement added.
However, it is not clear what could have been responsible for the unavailability of cash in most of these banks located in the FCT.
