Banks across the nation resumed disbursements of new Naira notes yesterday. There was a huge influx of customers who thronged banking halls to withdraw the new Naira denomination notes. Most transactions made across the counter were in the old notes.
Some customers who deposited old cash in exchange for a replacement, complained of low disbursement. Across-the-counter withdrawals were mainly in old notes, even as customers requested payment in the new currencies.
The few banks that had supply rationed the new notes. A customer at a bank in Lagos, who requested N120,000, received N4,000 in new N500 bills while the balance came in the old notes.
Supply was scarce, with Automated Teller Machines (ATMs) across the country still dispensing old notes.
Investigation revealed that most banks have not been supplied the new Naira notes. Banks that have the new notes ration it to customers at N2,000 per customer.
Many banks are yet to be supplied the new notes albeit the CBN’s aggressive position on the implementation of its cash withdrawal limit.
Reports from across the states reveal that the Naira notes are yet to be distributed by the corporate head quarters of many banks to their branches.