As the January 31 deadline for the mopping up of the old Naira notes looms, many Nigerians are in a state of panic due to the scarcity of the new notes.
Investigations by Ripples Nigeria, on Wednesday, revealed that many banks, in the Ketu area, have resorted to pegging the amount that can be withdrawn in order to ensure equitable distribution and circulation of the notes.
But reports from other parts of the state, including Ikotun, Egbeda, and Ejigbo areas indicate that most banks have shut down their ATM machines as they do not have the new notes in stock. There were allegations by some customers that the banks were discreetly giving out the new notes to some class of people within the banking halls, as against the CBN directive.
