Ibadan residents in Oyo State are currently facing distress due to the sudden scarcity of naira notes in the ancient city.
Reports indicate a shortage of naira notes in the city over the past few days, with the situation exacerbating notably over the weekend. A significant number of Automated Teller Machines (ATMs) in the city are not dispensing cash, prompting widespread concern among residents.
Investigations revealed that only a few ATMs are offering a maximum withdrawal limit of N5,000 to customers. Additionally, some ATMs have restricted cash disbursement solely to account holders of the respective banks.
Several ATMs were assessed across different areas including Iwo Road, Agodi Secretariat, Awolowo junction, Bodija, Sango, University of Ibadan, and Agodi Gate.
Mrs. Ifeoluwa, a bank customer interviewed at a bank in Awolowo junction on Sunday, expressed disappointment after visiting over four banks in an attempt to withdraw cash, none of which were dispensing money.
“This is unfair. When you have your money but the ATMs are not dispensing.
”We don’t know what is the reason. I am coming from Sango, I have checked the banks there but no money, I have visited banks at Mokola and I am now here. I have been going around since morning”.
Another resident of Ibadan identified as Kolade lamented that he was surprised that this was happening at this time of the year.
“I am surprised. I don’t know why they are hoarding the cash. The banks are not giving us our money, where do we go from here?
“There is a need for the government to overhaul the entire banking sector to avoid all these kinds of problems”.
It was correspondent reported that the situation remained the same in the city as of the time of filing this report on Monday.
