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Cash Scarcity Resurfaces As Banks Limit Withdrawal 

By cedar Chris

Despite the assurance given to Nigerians by the Apex Bank last week on the continue use of both old and new naira note for transaction, cash as scarcity has resurfaced .

In Lagos metropolis, it becoming more pronounced yesterday December 4th 2023 as customers were limited to just 10,000 naira for over the counter withdrawal.

while some Bank were totally out of cash , some have no cash for customers as many customers were seen stranded on cue before ATM.

Some of the tier one Banks branches visited had no cash available as they said we’re waiting for cash.

Base on the cashless policy of the CBN , individual customers could make withdrawal of minimum of #500,000 per week with a limit of #100 ,000 per day while corporate accounts were limited to 5million weekly withdrawals.

A POS Agent, Johnson okanlawan said he has not been able to source enough cash to give to his customers as ATM machines run dry in some Banks in lagos.

“I was also unable to get cash from my regular sources. traders from the North who usually bring good to Lagos who I also use to get cash from are also unable to give out cash .

” Northern Traders are also requesting for cash instead of Bank transfer they usually accept . Johnson stated .

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Wisdom Nwedene studied English Language at Ebonyi State University. He is a writer, an editor and has equally interviewed many top Nigerian Politicians and celebrities. For publication of your articles, press statements, upload of biography, video content, contact him via email: nwedenewisdom@gmail.com

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