Scarcity Of Naira Notes Hits Ibadan As ATMs Disappoint Bank Customers

 Naira scarcity

The many residents of Ibadan City, the capital of Oyo State have been left groaning over the sudden disappearance of naira notes in the ancient city.

The city has been witnessing a shortage of naira notes in the last few days, however, the situation became worse during the weekend.

A Daily Post correspondent who went around some parts of Ibadan on Saturday and Sunday observed a majority of residents, groaning over the development

A majority of Automated Teller Machines, ATMs, in the city, are not dispensing cash, leading to an outcry among residents.

Following investigations, Daily Post found only a few ATMs dispensing a maximum of N5,000 to customers, while some have restricted payment to only account holders of the bank.

Some of the ATMs visited include those in banks, in areas like Iwo Road, Agodi Secretariat, Awolowo junction, Bodija, Sango, University of Ibadan and Agodi Gate.

A bank customer identified as Mrs Ifeoluwa who spoke with our correspondent at one of the banks in Awolowo junction on Sunday, lamented that she has visited more than four banks to withdraw cash, noting that she was disappointed that none of them dispensed cash to her.

“This is unfair. When you have your money but the ATMs are not dispensing.

”We don’t know what is the reason. I am coming from Sango, I have checked the banks there but no money, I have visited banks at Mokola and I am now here. I have been going round since morning”.

Another resident of Ibadan identified as Kolade lamented that he was surprised that this was happening at this time of the year.

“I am surprised. I don’t know why they are hoarding the cash. The banks are not giving us our money, where do we go from here?

“There is a need for the government to overhaul the entire banking sector to avoid all these kinds of problems”.

DAILY POST correspondent reports that the situation remained the same in the city as of the time of filing this report on Monday.

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