Headline Local News Nigeria

Residents panic over naira scarcity in Ondo

Some of commercial banks in Akure, the Ondo State capital have shutdown their banking halls for services on Friday even as residents expressed confusion over the naira swap.

In most places where banks are opened, long queues are seen at the different Automated Teller Machines dispensing the new naira notes.

Radio Nigeria Reporter, Abiodun Akinluwa who visited some financial institutions in Ondo State, found out that those that did not open for businesses were acting on the directive from their headquarters over fear of attack.

As at the time of filling this report at the First Bank area of Alagbaka in the state capital where a protest on naira and fuel scarcity was billed to take place, normal business activities were going on with no sign of protest anywhere or security operatives.

Those who spoke with Radio Nigeria said they were still confused on CBN deadline on old naira notes as the Supreme Court issue contrary orders.

Commercial activities in Kwara State

Meanwhile, in Kwara State, commercial activities are now on low key following skeletal services by Banks over non-availability of both old and new redesigned naira notes.

A visit to some banks in Ilorin metropolis, showed that several banks are not issuing out money to customers and the Automated Teller Machines are also not dispensing cash .

A bank customer, Tunde Usman, told Radio Nigeria that he is disappointed over the tactical closure of banks in the state.

He said as early as eleven O’clock (11:00am) on Friday morning, some of the banks have closed for business over lack of funds, noting that customers were advised to use the epileptic E-banking window to transact their business.

Another resident of Ilorin, Mrs Abimbola Olusegun described the situation as worrisome and pathetic.

She appealed to the Central Bank of Nigeria (CBN) and the federal government to urgently intervene in the situation to alleviating the sufferings of the common man.

Reporting by Abiodun Akinluwa, Ali Rabiu; edititing by Julian Osamoto, Adeniyi Bakare