Naira scarcity has hit the Federal Capital Territory (FCT), Abuja as the initial deadline given by the Central Bank of Nigeria (CBN) to completely phase out old currency notes approaches.
No fewer than seven commercial banks in the AYA area of Abuja failed to dispense cash on Thursday.
By Thursday evening, customers walked away frustrated as they were unable to withdraw cash from ATM machines. Many complained that the situation has been the case for several weeks.
However, reports add that Point of Sales (POS), operators lined up in their numbers in front of those banks to make brisk business.
One of the POS operators, who identified himself as Samuel, lamented that the ATMs have not been dispensing cash as expected.
He noted that cash was only available at certain hours of the day.
“Since we entered December these ATMs have not been dispensing as much.
“There is naira scarcity and most likely it may be because we are approaching December, but only CBN can explain this new scarcity,” he said.
This is coming amid the Central Bank of Nigeria, CBN, directive that both the old and the redesigned Naira notes remain legal tender in Nigeria.