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Customers besiege banks in Ondo

Customers in Akure, the Ondo State capital have besieged banks to collect cash or deposit the old notes of N500 and N1000 notes.

Checks showed that banks are only paying out N5,000 per withdrawal against the N20,000 announced by the Central Bank of Nigeria(CBN).


An official at the Polaris Bank, who pleaded anonymity, said the payment of N5000 was to ensure the available cash get to many customers.


There were no cash at several ATM points visited in Akure.

Mr. Akin Osuntokun, who spoke to our reporter, lamented decision of the banks to pay out only N5000

By: Osagie Otabor, Akure

Customers in Akure, the Ondo State capital have besieged banks to collect cash or deposit the old notes of N500 and N1000 notes.

Checks showed that banks are only paying out N5,000 per withdrawal against the N20,000 announced by the Central Bank of Nigeria(CBN).


An official at the Polaris Bank, who pleaded anonymity, said the payment of N5000 was to ensure the available cash get to many customers.


There were no cash at several ATM points visited in Akure.

Mr. Akin Osuntokun, who spoke to our reporter, lamented decision of the banks to pay out only N5000

By: Osagie Otabor, Akure

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