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Against CBN’s directive, residents of Cross River receive just N5,000 from counter

Against CBN’s directive, residents of Cross River receive just N5,000 from counter

February 3, 2023
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Against CBN’s directive, residents of Cross River receive just N5,000 from counter

by Agency Reports
February 3, 2023
in Business, Economy

By Christian Njoku

Cross section of residents in Cross River have lamented their inability to get more than N5,000 from banking halls.

This they said was against the directive by the Central Bank of Nigeria, (CBN) that commercial banks could now pay a maximum of N20,000 across the counter in banking halls.

In an interview with some customers outside one of the popular commercial banks in Calabar, the News Agency of Nigeria (NAN) gathered that getting money from the banking halls was difficult.

Mr Emmanuel Ekpenyong who said he was a trader in the popular Marian market Calabar noted that he came and the bank’s security officials told him that he could only get N10,000 from the counter which was disappointing to him.

Ekpenyong however said that on approaching the counter, he was told that he could only receive N5,000, in spite of the fact that he wanted to withdraw N50,000.

“I thought it was a joke when the security man told me that I can only withdraw N10,000 but when I got to the counter, the cashier said they could only give us N5,000 because they are short of cash.

“What can I do with N5,000 in the N50 denomination that they were given to customers? This is very painful,” he said.

Ms Patience Olam said she came to the ATM in the bank and the crowd was much, so she decided to go into the banking hall but all she could get was N5,000 because cash was not available.

“This is weekend, we need money. N5,000 is too small for me and my household.

“Things are just difficult everywhere in this nation, fuel is sold for between N350 and N400, yet you cannot get it, even getting your own money is very difficult too.

READ ALSO: Group calls for immediate release of C’River Women Affairs Commissioner

“This was not what we were promised by this government in 2015.

“Nigerians were told that the economy, security and corruption will be fought and repaired but today things are worse,” she said.

An elderly man, Mr Jones Edward said Nigerians were very resilient because in spite of the pain everywhere, Nigerians were still surviving and the nation had not broken into chaos.

Edward said that the issue of the unavailability of naira notes to the people was high-level corruption because Nigerians don’t know who was telling the truth between CBN and the commercial banks. (NAN)

Tags: Nigeria
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