Connect with us

News

Naira crisis: Queues gradually disappear as bank ATMs dispense cash

Published

on

Spread the love


 

Long queues at commercial banks in Lagos have suddenly disappeared following the injection of more bank notes by the Central Bank of Nigeria (CBN) into commercial banks, the News Agency of Nigeria (NAN) report’s.

 

The apex bank had on Thursday confirmed the evacuation of bank notes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of the banknotes of various denominations.

 

The bank also directed all commercial banks to open for operations on Saturdays and Sundays.

 

The apex bank said that a substantial amount of money, in various denominations, had been received by the commercial banks for onward circulation to their respective customers.

 

The CBN had directed all banks to load their Automated Teller Machines (ATMs) as well as conduct physical operations in the banking halls through the weekends.

 

Meanwhile, a correspondent of NAN who monitored some of the banks in the metropolis to check compliance, reported that the long queues drastically reduced, not all bank ATMs dispensed and banks only paid customers who are account holders in their banks.

 

The banks visited along Ajao Estate Road in Oshodi –Isolo and Alimosho local government areas are Guarantee TrustHolding Company (GTCO), Keystone Bank, First City Monument Bank, Zenith Bank, Firstbank, United Bank for Africa, Globus bank, Polaris Bank and Union Bank.

 

NAN also reports that banks who paid their customers had limits to what they pay, which ranges from N5,000, N10,000 and N20,000.

 

Some banks paid N10,000 to their customers, N5,000 to non-customers and others only to bank customers.

 

An official at one of the banks which pays N20,000 to its customers, told NAN that for a customer to be paid the amount, the person must put his or her BVN down with a thumb print to ensure that they do not withdraw above the specified limit.

 

Mr Ayotunde Dayo, a transporter, who expressed joy that the long queues were gone, urged the apex bank to adequately supply banks with enough cash that could go round for everyone to access.

 

“This rationing of cash that banks are doing is not the best, when I heard that CBN had asked banks to begin to pay customers cash even on weekends, I was happy because the suffering of the people would reduce.

 

“But from the look of things, the sufferings will still continue because many banks only pay to their customers, if you are a non-customer, nothing for you.

 

“I use GTB but because I heard Zenith was paying I had to stop over to withdraw, but on getting here, I am told that I have no business being here because they only pay to their customers and it’s N5,000. This is not good,’’ he said.

 

Mrs Paulina Ikechukwu, a Secondary School Teacher, urged the apex bank to ensure enough cash was moved to commercial banks and accessible by everyone.

 

“The banks need to be faster because the masses are dying of hunger since the naira redesign came on board.

 

“The CBN should monitor the banks and ensure they comply; the typical Nigerian banks that I know would start well now and do something else in the coming days,’’ she said.

 

Mrs Balogun Shokunbi, a petty trader in Ajao Estate Market, however, blamed the scarcity of cash on Point of Sale (POS) operators, saying they connived with bank officials and security men to empty cash from Automated Teller Machines (ATMs).

 

She urged the apex bank to monitor them and ensure they did not go to the banks in the night to empty the cash in the ATMs.

 

“I sell in the market and I have friends who render POS services and they have told me how they get the money they use for their business.

 

“ One of them was even boasting of the money that she has made since the redesigned notes policy came up. I pray CBN will continue to pump in money to the banks so that we can all go back to our normal lives,’’ she said.

 

 

 

 

 

 

 

 

 

 

Credit: NAN

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NDLEA warns public against fake auction offers using officials’ names

Published

on

Spread the love

The National Drug Law Enforcement Agency (NDLEA) has warned Nigerians to be wary of fraudsters impersonating its officials to defraud unsuspecting members of the public through fake auction offers for forfeited vehicles.

 

In a statement issued on Friday, the agency’s spokesman, Femi Babafemi, said the scammers have been using the names of senior NDLEA officials, particularly the Secretary to the Agency, Barrister Shadrach Haruna, to circulate fraudulent letters and messages offering cheap forfeited vehicles for sale.

 

Babafemi described the offers as a deliberate scam aimed at swindling people of their money.

“The public is hereby notified that these offers are a complete scam. The Agency wishes to categorically state that these fraudulent offers are a malicious gimmick designed solely to defraud targeted individuals of their hard-earned money,” he said.

 

The agency stressed that no NDLEA official is authorised to privately allocate, sell or offer forfeited vehicles or any other seized assets to individuals.

According to the statement, all forfeited vehicles and assets are disposed of only through public auction processes conducted by government-approved auctioneers in line with legal and public procurement guidelines.

Babafemi added that legitimate auction exercises are always widely advertised in national newspapers and through the agency’s official communication channels.

He urged members of the public to disregard and report any letters, text messages or social media posts claiming to offer forfeited vehicles through Barrister Haruna or any other NDLEA official.

“The NDLEA remains committed to maintaining transparency and integrity in all its operations. Do not fall victim to these criminal elements. If you are approached with such fraudulent offers, please report immediately to the nearest NDLEA command or through our official communication channels,” the statement added.

Continue Reading

News

Initiators Promise Big As NIGMA Gets August 2026 Date

Published

on

Spread the love

 

The organisers of this year’s Nigeria International Gospel Music Awards ( NIGMA) have announced that the upcoming edition will celebrate the very best of the gospel music industry in an atmosphere of excellence, creativity, and inspiration.

 

The event is scheduled to take place on Sunday, August 9, 2026, at the prestigious Agip Recital Hall, MUSON Centre, Onikan, Lagos.

Speaking at a media briefing in Lagos, Kingsley Omoefe, Founder and Team Lead of NIGMA and Chief Responsibility Officer of Golden Heritage Limited, said the August event is designed to bring together gospel music ministers, industry stakeholders, fans, and supporters for a memorable celebration of talent, faith, and excellence.

He stated that attendees should expect an unforgettable experience featuring outstanding performances from leading gospel artists, alongside special recognitions for individuals and organisations that have made significant contributions to the industry.

The organisers also revealed that the event will feature meaningful conversations designed to inspire participants, promote collaboration, and foster the continued growth of gospel music.

The organisers said the August gathering would create memorable moments that would leave guests inspired, enriched, and motivated long after the curtains close.

They further called on corporate organisations, media outfits, and well-meaning individuals to take advantage of the opportunities available to support the event through sponsorships and strategic partnerships.

The organisers encouraged interested organisations and individuals seeking sponsorship, partnership, media accreditation, or participation to contact the event management for further information and registration ahead of the highly anticipated August programme.

Continue Reading

International News

Nottingham Forest Sacks 5th Manager In 10 Months, To Wrap Up Oliver Glasner’s Deal

Published

on

Spread the love

 

Oliver Glasner is in advanced talks to replace Vitor Pereira as Nottingham Forest head coach, a move which would see the Austrian become the club’s fifth manager in less than a year.

 

Pereira announced his departure from the club in a statement on Wednesday, saying that it came as a “complete surprise to me and without any warning”.

Glasner is a free agent after leaving Crystal Palace — where he won the FA Cup in 2024-25 and then the Community Shield and Conference League the following campaign — and is set to stay in the Premier League.

The 51-year-old confirmed in January that he would leave Palace at the end of the season after two years in charge.

On Thursday, Forest confirmed Pereira’s coaching staff Filipe Almeida, Luis Miguel, Bruno Moura, Marco Knoop and Pedro Lopes had all left the club alongside the head coach.

Pereira, 57, was appointed Forest head coach in February on an 18-month contract which runs until 2027.

The Athletic reported in May Forest had been planning to show their faith in Pereira by handing the head coach a new long-term contract, but those talks were subsequently put on hold.

“Today marks the end of my journey as head coach of Nottingham Forest,” he said in his statement.

“I want to say a sincere thank you to everyone connected with this incredible football club. Although this decision came as a complete surprise to me and without any warning, I fully respect the club’s right to make the decisions it believes are best for its future.

“Naturally, I am disappointed and saddened. I truly believed in what we were building together, and I leave with a sense of pride in everything we achieved over the past months.

“Together, we enjoyed a memorable end to the season. We secured the club’s Premier League status, reached the semi-finals of the Europa League, and created moments that will stay with me forever. Most importantly, I saw a group of players grow in confidence, belief and togetherness.

“I leave Nottingham Forest with no bitterness or resentment—only respect, gratitude and wonderful memories. Football is full of unexpected moments, and while this chapter has ended sooner than I expected, I will always look back on my time here with pride and affection.”

The Portuguese succeeded Sean Dyche and was Forest’s fourth permanent boss of the season following the departures of Nuno Espirito Santo and Ange Postecoglou.

Nuno had led Forest to Europa League qualification the previous season but he departed in September, less than three months after signing a new deal. Postecoglou was appointed his replacement but was dismissed just 39 days later. Dyche took charge of the team in October before his dismissal in February.

Forest were three points above the relegation zone when Pereira was appointed and he subsequently steered his side to Premier League safety with two games of the campaign remaining.

His appointment marked his second managerial spell in the Premier League after guiding Wolverhampton Wanderers to safety during the 2024-25 campaign.

Continue Reading

Trending

Copyright © 2026 TheColumn NG