The land of any bank that refuses to employ automated teller machines (ATMs) and banking halls to disperse new naira notes will be taken away by the state government, according to Borno State Governor Babagana Zulum.
Zulum made the order on Friday in Maiduguri after visiting bank branches to examine the issues locals were having trying to get new naira notes via lengthy lines at ATMs amid severe scarcity and despair.
“We shall revoke any bank in Borno State’s land title as soon as they refuse to make sure that their ATMs are fully dispensing new naira notes cash to alleviate the suffering of our people. Banks with verifiable, real limits will be the only ones we will spare, according to Zulum.
Zulum was dissatisfied before making that statement when he noticed a bank branch with hundreds of people lined up and just one out of ten ATMs dispensing cash.
“We recently released wages worth about N5 billion, but the banks are out of cash, and some of the ATMs are broken,” the source said. We have no issues with the CBN’s regulations or the N20,000 withdrawal cap, but why can’t everyone have access to that amount of money?
Only those with less privilege are queuing, as you can see here. Rich individuals weren’t in sight. Many individuals are believed to have arrived since 3:00 am; some were unable to even eat. People are hurting because the state’s commercial activities are being negatively impacted by the lack of new and even old naira notes.
