Finance

Customers decry banks’ inability to dispense old N200

Some customers of various banks in the Federal Capital Territory (FCT) have decried the inability of most banks to dispense the old N200 notes in spite of President Muhammadu Buhari’s directive.

The News Agency of Nigeria (NAN) reports that Buhari had on Thursday directed the Central Bank of Nigeria (CBN) to allow the re-circulation of the old N200 notes into the economy.

Some of them who spoke to NAN in Abuja on Sunday alleged that banks were sabotaging the efforts of the CBN and the government toward actualising the currency swap policy.

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Mr Tunde Ade, a bank customer, appealed to banks to stand up to their responsibilities to enable the policy to work effectively.

“I went to my bank in Central Area to get some money for the family upkeep during the weekend but to my surprise, both the banking hall and the Automated Teller Machines (ATMs) were not functioning.

“I was told by other customers there that the bankers and security men locked themselves inside the banking hall and refused customers from coming in.

“This is not fair on customers. If not for anything, they should release the N200 notes and start dispensing them to customers as directed by the president.

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“I heard that First City Monument Bank (FCMB) is the only bank that issued the old N200 to customers but they said they have exhausted the ones they have,” he said.

Another customer, Mr Elvis Idika, commended Buhari for the directive on the re-circulation of the old N200 notes.

Idika said the directive would help to ease the suffering of the masses.

“I guess the president gave the directive because from what we have seen online, the people that hide monies only do that with the N500 and N1,000 notes.

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“This is very commendable and we hope it will ameliorate the sufferings that people are currently facing,” he said.

Another customer, Mrs Aminat Abire, alleged that banks in other states were issuing the old N200 notes to their customers.

She called on the CBN to make available the notes to banks and sanction anyone of them who refused to dispense them to customers.

NAN reports that some banks visited were yet to commence the dispensary of the old N200 notes.

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