Bank customers across major cities in Nigeria, yesterday, continued to experience difficulties withdrawing money from Automated Teller Machines (ATM).
Signs of cash crisis in some banks have multiplied in the last few weeks, as bank customers complained of difficulties in withdrawing cash from the ATMs, forcing many of them getting cash across the counters.
Checks by Sunday Sun, yesterday, showed that the situation may have escalated further, as long queues and non- dispensing Automated Teller Machines were noticed in virtually all branches of banks visited by our correspondent in Lagos.
A bank customer, Daniel Wusu, who related his experience to Sunday Sun, said he left home as early as 7.00 am for an ATM point and did not return home until noon. “I visited several ATM points around Egbeda- Akowonjo and what I saw was frustrating. So many machines were not working. Where you manage to see any working, you have to grapple with long queue,” Wusu lamented.
Findings by Sunday Sun show that the situation was not different in virtually all states of the federation, including Abuja, the Federal Capital Territory, as bank customers reportedly groaned over their inability to get cash.
Felix Iredia, another bank customer in Abuja told one of our correspondents that the situation was getting more disturbing as most ATMs were not dispensing. He said: “I think there is a major problem with some of these banks which they are trying to manage. I just hope they will succeed in managing the situation well. Granted that we are in festive period when people need more cash but the situation, to me, appears more challenging this year,” Iredia said. Speaking in a telephone interview with Sunday Sun, Mr. Isaac Okorafor, spokesperson of Central Bank of Nigeria, CBN attributed the situation to festivity. “Today is 24th day of December. Tomorrow is Christmas and Monday is also a public holiday. So is it not logical that there will be queue everywhere? There will definitely be queues everywhere, he said.

http://sunnewsonline.com/bank-customers-lament-as-atm-cash-crisis-escalates/


What is the situation in your location?
Person go get money for bank, to collect am come be problem again. This country sef!
We are not talking about the foreign dollars. ..but the local NAIRA!

The situation being witnessed in ATMs in most States across the country shows the failure of our institutions to constantly review the status quo with a view to perfecting the system. The question we should ask the CBN spokesman is: 'Is this the first yuletide or festive season we're experiencing?'

What measures have the Banks put in place to avoid a recurrence? Have they learnt anything from past experiences? I ask because it seems to me that the situation is worse this year.

It also goes a long way to show the disdain with which customers are treated in our country and I am not referring to only Banks or big corporations. The way sales persons in some local stores treat or speak with customers leaves much to be desired.

In all of this, where is the Consumer Protection Council? Sleeping as usual while Dstv, MTN and the rest of the corporate gang continually rapes Nigerians.
. ~Omo Oba

this is happening because someone somewhere does not like xmas....period

I think queuing to get cash via an automated teller machine iis kinda overrated, we should embrace the use of cards for purchase/payments, POS cash back, one can iin same vein visit a business centre n via mobile money transfer this virtual cash to the cashier n get a physical cash equivalent.

#MyCandidOpinion

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vimi:
I think queuing to get cash via an automated teller machine iis kinda overrated, we should embrace the use of cards for purchase/payments, POS cash back, one can iin same vein visit a business centre n via mobile money transfer this virtual cash to the cashier n get a physical cash equivalent.

#MyCandidOpinion

I agree with u, POS shld be made available to filling stations, super market, most biz

vimi:
I think queuing to get cash via an automated teller machine iis kinda overrated, we should embrace the use of cards for purchase/payments, POS cash back, one can iin same vein visit a business centre n via mobile money transfer this virtual cash to the cashier n get a physical cash equivalent.

#MyCandidOpinion

True. POS has too many network issues. A mobile transfer would be a better way of doing things if the shop is willing to provide the funds. In fact we are testing an app that does the same thing, sorting shops by amounts they will have. This will help the industry while people get familiar with POS and the system becomes reliable.