This issue of naira redesign is now a serious problem in the country as liquid cash is scarce.
CBN's initial aim is to reduce the cash flow in supply and encourage online transactions not minding the fact that it won't augur well as Nigeria is not yet fully developed in terms of literacy and network reliability.
The policy isn't working as planned but instead of facing the actual issue and agreeing that the mode of implementation is bad, CBN has gone on a jamboree, busting commercial banks and recording any new notes they see and uploading to the media all in a bid to shift blame to commercial banks. Those banks seen with high volumes of new notes are probably main branches whose responsibility is to distribute to other remote branches. Now that CBN has shifted the blame and the banks know they can't meet up, most of them are closing temporarily to avoid irate customers who think it's the commercial banks fault.
In Anyigba and Idah, Kogi state, all banks were closed yesterday due to unavailability of cash which the customers will think is their fault and destroy properties. I am also aware of some branches that closed in other locations to avoid the rage of people coming for cash.
This is not the first time nor the first country to redesign currency note, why is this time difficult?

I believe as days go by,more bank branches will temporary close except CBN comes up with something spectacular. What's helping is the few old notes still being spent by people. if by Friday people go to banks to deposit the old notes, they'd want to withdraw immediately and once the bank can't pay them, I foresee clashes.

This is my humble opinion, please seun, Lalasticlala and fpmoderator should help move to right section for more opinions.

Vote Tinubu because APC has failed us.

And the greedy bank were ready selling the one given to them and you see nothing wrong with that.

hisgrace090:
And the greedy bank were ready selling the one given to them and you see nothing wrong with that.

You think it's easy for small commercial banks to be able to see the little given to them when it was stated that all initially must be loaded to ATM? If there was sharp practices happen, most of them is happening from CBN.

Let CBN go to court and prosecute the officers of the banks caught before you'd believe their social media nonsense. When did CBN/EFCC/ICPC start recording videos? They know the truth but they've successfully pushed the blame.

jrobbins:


You think it's easy for small commercial banks to be able to see the little given to them when it was stated that all initially must be loaded to ATM? If there was sharp practices happen, most of them is happening from CBN.

Let CBN go to court and prosecute the officers of the banks caught before you'd believe their social media nonsense. When did CBN/EFCC/ICPC start recording videos? They know the truth but they've successfully pushed the blame.

Why are the commercial Banks not talking and defending themselves?

There's a report yesterday, the ICPC found over ₦200M in a bank in Abuja, till now, Sterling Bank never clear the air on wetin happen actually and you feel the people will trust the bank?

Parachoko:
Why are the commercial Banks not talking and defending themselves?

There's a report yesterday, the ICPC found over ₦200M in a bank in Abuja, till now, Sterling Bank never clear the air on wetin happen actually and you feel the people will trust the bank?

That's a mother branch (CBN would never give 200M to any single branch because they didn't print much) responsible to distribute to other branches. Maybe the movement just came in and CBN being aware that they've not distributed it ( cash isn't just ordinary paper to banks that they'd be moving without logistics) quickly carried eye service surveillance. They've released the bank officials and I'm sure no sanction will happen. You know CBN, as apex bank would have been sanctioning banks by now if they're saying the truth.

The banks are kinda feeling somehow(scared maybe) to come online and show disagreement with CBN.

I've toured again this morning, the banks are still closed. I believe, banks have realized a subtle way of protesting against CBN.

Any bank keeping the new notes without making them available is to be blamed.

They weren't given to be hoarded, but to be made available to the public via ATM and over the counter.

It's better to have empty vault than writing epistles to defend yourself