· NLC meet Tuesday on nationwide protest
By Emmanuel OGBECHE
Almost 72 hours after the Central Bank of Nigeria, CBN, directed Deposit Money Banks, DMBs, to ‘evacuate’ the old denominations of N1,000, N500 and N200 returned to the apex bank for onward disbursement to customers, the rationing of cash by some banks persist.
In Abuja, the Federal Capital Territory, FCT, while residents have heaved a sigh of relief, some have continued to query the partial compliance by some banks to the CBN directive on withdrawal limit.
Though some branches of the major banks opened on Saturday and Sundays, our correspondent observed that most ATMs were still without cash, while those that had were crowded.
However, on Sunday, the situation had improved a bit but with banks paying only N10, 000 across the counter.
At the Access Bank branch on Ekukinam Street near the Utako Market, there was a sizeable crowd at the two ATMs with cash.
Our correspondent who tried to get money over the counter was told he could get only N10, 000 as against the N500k directed by the apex bank for individual account holders.
Also, the Access Bank by Gana Street Maitama was not dispensing cash as at 5pm. Further, the Zenith Bank at Adamawa House was without cash, while Taj Bank next door at Benue House was attending to customers and their ATMs dispensing as much as N10, 000 per withdrawal at a maximum of N40, 000 daily withdrawal limit.
Ironically, the UBA ATM gallery at Aminu Kano was dispensing but at N2, 000 per withdrawal.
The CBN, in the memo it sent to banks, also cancelled the N20,000 limit and increased ATM Withdrawal Per Day To N40,000.
Over The Counter, OTC, withdrawal limit was also increased to N500,000 for individuals and N5 million for corporate entities.
NLC meet Tuesday on CBN picketing
The Nigeria Labour Council will be meeting on Tuesday to take a final decision on whether to proceed with its occupy CBN offices nationwide.
The labour centre had directed its affiliates to mobilise to occupy CBN offices across the country over the excruciating cash crunch Nigerians had endured for months owing to the badly implemented cashless policy by the Godwin Emefiele-led apex bank.
The Abuja Inquirer learnt that officials of the CBN have been meeting with Joe Ajaero, president of the NLC and other officials to call off the planned protest as the bank was making concerted efforts to address the cash scarcity by injecting about N2billion every week into the system.
Some hawks within the NLC want the protest to hold as well as calling for the sack and arrest of Emefiele for economic sabotage, The Abuja Inquirer learnt.
But there are those who feel he was under directive from the Presidency, therefore, should be allowed to address the dire situation with the Friday directive to banks.
Residents relieved
Residents of Abuja have continued to express their relief over the availability of cash and the end to exorbitant charges by PoS operators.
Inusa Sule, who spoke to our correspondent, said “the relief is huge. I must commend the NLC for speaking out as at when it did. I believe that was what spurred the CBN to order banks to release cash to their customers. May this never happen again,” Sule prayed.
Also, Mr. Obinna, a shoe dealer wondered why the unnecessary suffering Nigerians had to go through when the elections were fraught with other irregularities other than vote-buying.
“I can now breathe easy. But the country needs to improve on its ICT and banking infrastructure to harness whatever benefits there are,” Obinna said.
