Kaxmytex:
Security men go b lyk..... madam...make all of una respect una sef o

you must have been a security guard before. talking from experience

It is normal during every festive season, if those ATMs were working efficiently, if the customers are adequately educated, if enough touch points are created. If the networks are efficient, if the staff are proactive should we always have this type of embarrassing situation all the time.

I could remember some 3 or 4 years ago on the eve of Christmas Gtbank failed, all channels failed. Some people fainted some had high bp. They forced me to have my Christmas indoors. I could only imagine what happened to a family men and women at that point. Yet no body was compensated for that auspicious service failure and no public apology or explanation till date. Else where that would signalled the end of that bank after being sued by every customer but no it was business as usual.

They will just be boasting of technology but one single situation makes a mess of all the campaign. What a country indeed. Simple things we find it difficult to do. Indiscipline everywhere. Mtscheew.

If you ask the bank now what went wrong they will blame CBN for not releasing money, ask CBN what happened they will blame it on the people as last minute withdrawal. For heavens sake any bank worth been called a bank should as a matter of law and order produce customers .money whenever demanded. Any bank that cannot do that is suspect and definitely a candidate for bank failure if not not then in the future.

So our financial system also froze peoples money? And they are yabbing MMM activity...

Who them they fool?

Abeg bring on another topic

douchesnozzle:


I experienced same yesterday in Ph. But in onitsha today as a market area, d 3 banks I visited were all paying. Places like onitsha Alaba, won't experience such cash crunch cos traders would always bring cash to the bank. My annoyance is some misguided ponzy investors trying to compare banks with MMM.

Na so but I heard from a friend of mine that there's less money in circulation and that the CBN has refused to print more money instead they circulate the ones most persons deposit.

chiefojiji:


you must have been a security guard before. talking from experience

Ur moniker says it all..
u b our then C.S.O nah

I am sure this is first bank OYIGBO RIVERS STATE.........d only fistbank that serves oyigbo, asa, obehie, umuebule 1,2 and 4,etche,afam, obeama, umusoya, oyigbo west,kom-kom,okoloma,timber,steel village,location,okpulor etc.......i really wonder what the uncercumsised regional manager is doing

I am sure this is first bank OYIGBO RIVERS STATE.........d only fistbank that serves oyigbo, asa, obehie, umuebule 1,2 and 4,etche,afam, obeama, umusoya, oyigbo west,kom-kom,okoloma,timber,steel village,location,okpulor etc.......i really wonder what the uncircumsised regional manager is doing

RoyalMail:
Today is definitely a day of mixed feelings. According to a reader who shared these pictures, this drama as First Bank PLC as people vow not to leave the banking hall until when they get paid. This may be unconnected to the festive period and probably the MMM saga. See more pictures below..


Source:
http://www.ajayiwrites.com/2016/12/drama-as-customers-refuse-to-bank.html

is it first Bank Akute

iykenathan162:



Mm has notin to do with dis ode! Pple have money on their account and should be allowed to withdraw their money. Did they go to the bank to beg?

Did you even read what I quote? did I say MMM have something to do with this? Daft being! the dude I quote was talking about MMM and I was surprised he was part of those doing it, so what's your biz with that? gbaranmi deleru

madridguy:
You that said you don't know why MMM frozen mavro, hear this, yesterday in Port Harcourt ,Ecobank was not able to pay people complete but only 50% payment once you are withdrawing 100k upwards. People in Port Harcourt lamenting on that action.

MMM haters una see una life?

unconfirmed reports say banks in PH today were paying 20k maximum.

dunkem21:
Maybe pensioners and their stipends hasn't been posted ..

You go explain to these ones tire

The word stipend reeks of arrogance and stupidity... Next time choose your words better

douchesnozzle:

MMM guys should stop comparing banks with that stupid scheme. Bank didn't pay u cash doesn't mean it can't give you your money. A lots of bank are migrating customers to ADC. If you are refused cash at the counter kindly do a transfer via your app or ATM and see if the transaction won't be processed. MMM is gone for good and the earlier u guys get it the Less numbers of heart failure next year.

lemmi quote u, so that we can come back January 14th to finish this discussion.

Regards

totorimi:
It is normal during every festive season, if those ATMs were working efficiently, if the customers are adequately educated, if enough touch points are created. If the networks are efficient, if the staff are proactive should we always have this type of embarrassing situation all the time.

I could remember some 3 or 4 years ago on the eve of Christmas Gtbank failed, all channels failed. Some people fainted some had high bp. They forced me to have my Christmas indoors. I could only imagine what happened to a family men and women at that point. Yet no body was compensated for that auspicious service failure and no public apology or explanation till date. Else where that would signalled the end of that bank after being sued by every customer but no it was business as usual.

They will just be boasting of technology but one single situation makes a mess of all the campaign. What a country indeed. Simple things we find it difficult to do. Indiscipline everywhere. Mtscheew.

If you ask the bank now what went wrong they will blame CBN for not releasing money, ask CBN what happened they will blame it on the people as last minute withdrawal. For heavens sake any bank worth been called a bank should as a matter of law and order produce customers .money whenever demanded. Any bank that cannot do that is suspect and definitely a candidate for bank failure if not not then in the future.

This is one of the very few sense-making posts on this thread.

However, i wana make a little additions.

Truth is, the figures you see when you check your credit balance, or transfer money to someone are just mere digital figures/money. The banks have used your money to do other things. But when you come for your money, they simply take the money of a depositor and pay you.

That is exactly what the bank does and it works perfectly because of 2 reaseons:

1. We all dont withdraw our money at the same time
2. We carry out our normal buying and selling transactions. So the money gets back to the bank to continue the cycle of depositors pay withdrawers

But from what is happening now, it is obvious that people have now come to for their money at the same time and, somehow, some people out there have huge sums of money in liquid cash. It is their refusal to, not just re-deposit the money to the bank, but to carry out their normal buying and selling so the money can find its way to the bank that is causing all these problems.

So, it is only normal that the banks should suspend or peg withdrawal requests for now, pending when money begins to flow normally.

If this situation continues for the long, the NDIC will step in and begin to pay people their money in tiny bits (it may take them as much as 5years to pay you your 100k, that is if they ever complete it o...lol) but they will begin to sensitize people to free up the liquid cash in their possession so that the economy will be revived. But eventually, things will get better

Suffice it to say that this is exactly what is happening to MMM now.

I really dont know whats up with Nigerians and festive period.

Eww..feet

madridguy:
You that said you don't know why MMM frozen mavro, hear this, yesterday in Port Harcourt ,Ecobank was not able to pay people complete but only 50% payment once you are withdrawing 100k upwards. People in Port Harcourt lamenting on that action.

MMM haters una see una life?

So even this Sai Babarian dey do MMM!!

I thought Buhari has turned Nigeria to a land of milk and honey?

odimbannamdi:


This is one of the very few sense-making posts on this thread.

However, i wana make a little additions.

Truth is, the figures you see when you check your credit balance, or transfer money to someone are just mere digital figures/money. The banks have used your money to do other things. But when you come for your money, they simply take the money of a depositor and pay you.

That is exactly what the bank does and it works perfectly because of 2 reaseons:

1. We all dont withdraw our money at the same time
2. We carry out our normal buying and selling transactions. So the money gets back to the bank to continue the cycle of depositors pay withdrawers

But from what is happening now, it is obvious that people have now come to for their money at the same time and, somehow, some people out there have huge sums of money in liquid cash. It is their refusal to, not just re-deposit the money to the bank, but to carry out their normal buying and selling so the money can find its way to the bank that is causing all these problems.

So, it is only normal that the banks should suspend or peg withdrawal requests for now, pending when money begins to flow normally.

If this situation continues for the long, the NDIC will step in and begin to pay people their money in tiny bits (it may take them as much as 5years to pay you your 100k, that is if they ever complete it o...lol) but they will begin to sensitize people to free up the liquid cash in their possession so that the economy will be revived. But eventually, things will get better

Suffice it to say that this is exactly what is happening to MMM now.

I really dont know whats up with Nigerians and festive period.

in ur mind u think u've made some sense.....

Ever heard of liquidity ratios and cash reserve ratios? ...please look them up so u can educate urself and stop comparing banks with ur MMM.

And also look up credit quality ratios and risks to understand extreme cases where a bank may not be able to meet it's financial obligations and as such may need AMCON or NDIC's interventions.

as for the issue of cash outage, we all await CBN's explanation as banks are not even able to withdraw from CBN.

YUNGLURD:
the odour wey go dey ooze from that shoe fit kill flies...

and u ve parents n old ones at home abi?
respect is reciprocal

At op, this is not first Bank..... Does it mean that if a bank now has blue color now is first Bank??

Is first Bank using the Sky Is Big Enough as it's slogan?

douchesnozzle:

MMM guys should stop comparing banks with that stupid scheme. Bank didn't pay u cash doesn't mean it can't give you your money. A lots of bank are migrating customers to ADC. If you are refused cash at the counter kindly do a transfer via your app or ATM and see if the transaction won't be processed. MMM is gone for good and the earlier u guys get it the Less numbers of heart failure next year.

Idiot will you keep quiet... So when you make the transfer to the recipient you then go to the persons house to withdraw your money from the ATM in his sitting room yea!!

See fool don't make me transfer the aggression of my ordeal at Diamond bank today at you....

You people just come here and talk bullshit and the annoying part is you do it with plenty confidence

douchesnozzle:

MMM guys should stop comparing banks with that stupid scheme. Bank didn't pay u cash doesn't mean it can't give you your money. A lots of bank are migrating customers to ADC. If you are refused cash at the counter kindly do a transfer via your app or ATM and see if the transaction won't be processed. MMM is gone for good and the earlier u guys get it the Less numbers of heart failure next year.

Mumu will you keep quiet... So when you make the transfer to the recipient you then go to the persons house to withdraw your money from the ATM in his sitting room yea!!

See fool don't make me transfer the aggression of my ordeal at Diamond bank today at you....

You people just come here and talk bullshit and the annoying part is you do it with plenty confidence

Dfinex:


in ur mind u think u've made some sense.....

Ever heard of liquidity ratios and cash reserve ratios? ...please look them up so u can educate urself and stop comparing banks with ur MMM.

And also look up credit quality ratios and risks to understand extreme cases where a bank may not be able to meet it's financial obligations and as such may need AMCON or NDIC's interventions.

as for the issue of cash outage, we all await CBN's explanation as banks are not even able to withdraw from CBN.

I really wonder why possible non-MMM participants are so vexed at the mere mention of MMM.

Madam, leave all those your economic/financial jargon. The basic truth is that, the survival of financial institutions and, by extension, the economy of a country, hinges solely on the constant circulation of funds - from the bank to human hands to the market and back to the bank. And this also solely depends on the people and their fair understanding of how it all works.

Think about this: What do you think will happen if we all gradually withdraw our money, dig a hole in our house and bury this money?

You may say this can not happen...but something similar is happening already. Else, where did all the money go!?

PS: I know about all those monetary policy tools you mentioned there. But, you could still throw more light on them in relation to the current happenings. perhaps, i am not getting something right

Silvereze:
I'm here now!

Check my signature for Agribusiness tips that will make you rich

Why hasn't it made u rich abi r u allergic to money

Fremancipation:
There is something about this picture and my intuition that makes me feel like a lot of these folks voted for buhari.

You wan find trouble again

douchesnozzle:

MMM guys should stop comparing banks with that stupid scheme. Bank didn't pay u cash doesn't mean it can't give you your money. A lots of bank are migrating customers to ADC. If you are refused cash at the counter kindly do a transfer via your app or ATM and see if the transaction won't be processed. MMM is gone for good and the earlier u guys get it the Less numbers of heart failure next year.

Chaiiii I!!! Bros you wicked oooo... Have mercy on those whose money are trapped there nah

osolee:
Even some ATM refused to dispense money until this evening

Either they failed to load it with money or they disabled the network... Nigerian banks ehn

Kaxmytex:
Security men go b lyk.....
madam...make all of una respect una sef o

That kind statement fit only work for youths no be for these frustrated women wey u dey see for that picture so

madridguy:
You that said you don't know why MMM frozen mavro, hear this, yesterday in Port Harcourt ,Ecobank was not able to pay people complete but only 50% payment once you are withdrawing 100k upwards. People in Port Harcourt lamenting on that action.

MMM haters una see una life?

You're comparing orange with apple. Deposits in commercial banks are partly insured, equally, the Central Bank is there to bail out any distressed bank unlikely MMM that is hidden in secrecy.

PsalmieD:
I hope you guys won't start calling the banking sector a scam... .

Now you guys can see that the biggest scam is Nigeria itself and not MMM... .

I Reserve my Comment till Jan 14....

January 14, 2017 please come quickly oooo.

odimbannamdi:


This is one of the very few sense-making posts on this thread.

However, i wana make a little additions.

Truth is, the figures you see when you check your credit balance, or transfer money to someone are just mere digital figures/money. The banks have used your money to do other things. But when you come for your money, they simply take the money of a depositor and pay you.

That is exactly what the bank does and it works perfectly because of 2 reaseons:

1. We all dont withdraw our money at the same time
2. We carry out our normal buying and selling transactions. So the money gets back to the bank to continue the cycle of depositors pay withdrawers

But from what is happening now, it is obvious that people have now come to for their money at the same time and, somehow, some people out there have huge sums of money in liquid cash. It is their refusal to, not just re-deposit the money to the bank, but to carry out their normal buying and selling so the money can find its way to the bank that is causing all these problems.

So, it is only normal that the banks should suspend or peg withdrawal requests for now, pending when money begins to flow normally.

If this situation continues for the long, the NDIC will step in and begin to pay people their money in tiny bits (it may take them as much as 5years to pay you your 100k, that is if they ever complete it o...lol) but they will begin to sensitize people to free up the liquid cash in their possession so that the economy will be revived. But eventually, things will get better

Suffice it to say that this is exactly what is happening to MMM now.

I really dont know whats up with Nigerians and festive period.

I really love the addition you made. However, I disagree with the bolded.

If commercial banks have cash squeeze, the main reason is because the depositors' money have been loaned out and yet to mature. At this point, the bank knows who and who are holding this money and if need be, the debt can be sold at a discount to bring in more cash (to improve it's liquidity).

Freedom2016:
Yorubaa and traditional attire are like 5 and 6. They wear it even in government offices!

Not as much as Hausa people. But Shouldnt it be a thing of pride?