By Linus Aleke
Residents of the Federal Capital Territory (FCT), have expressed displeasure over the agony caused by the unavailability of the Central Bank of Nigeria’s new Naira bills.
Most of the commercial banks’ Automated Teller Machines (ATM), in the Federal Capital Territory (Abuja), Monday did not dispense either the new or old Naira notes.
However, the few machines in the city that were dispensing the new Naira notes were practically turned to the boxing ring where only the strong had their way, while the one’s not dispensing metamorphosed into “static theatre,” where lamentations and expression of agony was the centrepiece of the discussion.
Regrettably, the point of sale system (POS), operators, that should bridge this obvious gab are also affected by the scarcity of new notes.
The few that manage to get the new Naira notes, charge as high as N1000 for each N10,000 withdrawal, using their POS.
Civil savants, Mr Paul Agatu shared his experience with ThisNigeria Newspaper.
He said he could not report to his office yesterday because he spent the whole day struggling to withdraw money from ATM.
“I visited no fewer than 5 different banks’ ATMs, and none were paying. I even went into the banking hall but to no avail. The bankers said, that they are open to collecting the old Naira notes and not paying customers across the counter. When I appealed to one of the staff to help me, he told me that they don’t have the new Naira notes. “If we have it we would use it to satisfy our customers. The little we have, we loaded in the ATM and it is finished,” he told me. This is in addition to fuel scarcity,” he further lamented.
A taxi driver, who simply identified himself as Adedayo, said the scarcity of new Naira notes is affecting transport business in the city.
He said, “There are no passengers on the road. Most people are on queues in ATMs. I am appealing to the government to make these new notes available to reduce this suffering. The new money is good but it is too scarce”.
He noted that if the scarcity of these new notes continues, it will drive many of them out of business.
A POS operator, Ms Ada told our correspondent that some of them may also be frustrated out of business if this thing continues.
She said that for her to get N100,000 to service a few customers in a day, she would have to use 5 different ATM cards.
Ada explained that “we can no longer withdraw more than twenty thousand naira with one ATM card, due to the implementation of the withdrawal limit by commercial banks”.
She said, that it is more frustrating when one encounters an ATM machine that is dispensing N200 notes, adding that you would be forced to withdraw the twenty thousand in tranches of N400 each.
On his part, another POS operator, who did not want his name in print told our correspondent that he had to ration the small new Naira notes he has to his loyal customers, so as to maximize profit.
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When asked about his charges, he said that he charges N300 per each N3000 that he pay his customers.
He told our correspondent that when he learnt of the extension order by CBN on Sunday night, he decided to visit his bank early Monday morning to get the old Naira notes, but his efforts met a brick wall.
He said that the bankers told him that they were instructed not to disburse the old Naira notes to their customers.
The POS operator added that when he requested for new Naira note, he was directed to the ATM machine.
“Even when I begged them to give me N100,000 worth of the old Naira notes, they told me that they can only receive it but cannot give it out to customers. Regrettably, they are also, not giving the new notes,” he further explained.
He equally corroborated the view of the female POS operator that the banks have started full implementation of withdrawal limits as one is not allowed to withdraw amounts above twenty thousand Naira, using the same card.
Proffering a solution for the endless queue in ATM machines, Paulinus Ugwu, cautioned banks against the current practice where customers are forced to withdraw twenty thousand Naira daily in tranches.
He advised commercial banks to reprogram their machines to allow customers to withdraw twenty thousand Naira once, so as to eliminate undue delays in ATM machines.
