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Osun residents moan as naira scarcity bites

By Micheal Ofolue

Residents of Osun State have expressed dissatisfaction with Naira Scarcity which had lingered on for weeks in commercial banks across the state.

The Hope who monitored the situation in Osogbo the state capital, Ile-Ife and Ilesa towns indicated that ATMs of commercial banks were dispensing a limit of N10,000 cash to customers and characterized with long queues.

A businessman, Adio Olaoye said his experience in banks and ATM points in the last three weeks had been horrible saying the nature of his business required more cash.

He explained that the Supreme Court had ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new notes till further notice, in its ruling last week Thursday.

Olaoye appealed to the concerned authorities to make available more cash for customers to reduce the untold hardship.

Also, a student in Ilesa, Aisat Adeleke who observed that few banks loaded the ATMS with cash and the dispensing is limited to N5,000 or N10,000 depending on card explained that, she needed to make some payments in school with cash and couldn’t afford to pay the exorbitant charges of POS operators.

In his response, a banker working with a new generation bank in Osogbo, who preferred to be anonymous, said bank officials cannot say when normalcy would return, hence the need for Nigerians to bear with them.

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