Naira Scarcity: Crowds Overflow Banking Halls as Branches Ration Cash

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Kwara branches are cashless. The CBN “order” was not followed, according to bank managers in Ilorin, the capital of Kwara State. In Lagos, there are long lines outside of banks.

According to a information there are still lengthy lines both inside and outside of banks in Lagos, and locals claim that even after spending hours in line, it is impossible to withdraw both new and old currencies.

It has also been learned from some of the local commercial banks that the CBN had not yet “released” the anticipated volume of old notes to them.

Access Bank employees who requested anonymity claimed they were also informed that the CBN would release the old notes, however, as at closing time, the bank was yet to receive delivery of the money from the apex bank.

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