New Naira: Banks Beef Up Security Against Customers’ Attacks by dre11(m): 3:08pm On Jan 28, 2023 |
Four days to the expiration of the deadline set by the Central Bank of Nigeria for the old N1,000, N500 and N200 notes to cease from circulation, Deposit Money Banks have taken extra security measures to prevent angry customers from attacking their branches and destroying facilities.
Saturday PUNCH reports that customers besieged bank branches in different parts of the country on Friday in attempts to withdraw new notes for use during the weekend and deposit old notes so that they would not be caught napping as Tuesday’s deadline approaches.
However, most of the customers were disappointed as they could not make withdrawals through the Automated Teller Machines as most of the machines had been shut due to non-availability of new notes, while the few ATMs that were dispensing cash had long queues of desperate customers.
Similarly, security guards at bank branches had a hectic time controlling the surging crowds making attempts to enter the banking halls to see if they could withdraw new notes over the counter. The situation almost degenerated into a free-for-all in some of the branches visited as customers complained of waiting in queue for hours without being allowed inside the banking halls.
The branch manager of a Tier-1 bank in the Lekki area of Lagos State told Saturday PUNCH that the lender had taken extra security measures to forestall attacks on its facilities by angry customers who were unable to get the new notes.
The manager explained that despite assurances by the apex bank that it was supplying enough new notes to the banks for circulation to their customers, the truth was that the lenders were not getting enough.
She said, “The truth of the matter is that the cash available is not enough. Last Saturday, my branch received N9m in new notes to be loaded into four ATM terminals. Each terminal normally takes N8m in N1,000 notes, but we had to load only three terminals with N3m each, and by Monday morning, the money had been exhausted.
“We didn’t get another supply until Wednesday when we got only N4m, which was loaded in two ATM terminals. Of course, it didn’t take long for customers to withdraw everything.
“Even this night (Thursday), there is a long queue of desperate customers, but only one terminal is working as the other one has a problem and we can’t fix it this night because if anything negative happens, we are not covered by insurance at this time of the day.
“We anticipate that some angry customers may want to vandalise our facilities and forwarded our observation to the head office, which has proactively deployed more security personnel to this branch and others with similar scenarios.”
It was learnt that the state police command had also deployed additional personnel and equipment, including armoured personnel carriers, in strategic locations where banks were concentrated in order to quickly quell any uprising by angry customers.
Another bank manager in the Abule-Egba area of Lagos State told one of our correspondents that officials had to take extra measures in anticipation of security breaches as the area is volatile as hoodlums could capitalise on the slightest protest by angry customers to vandalise and loot banks in the area.
The bank manager said more armed policemen were now manning the branch and were visible unlike in the past when customers would not know that they were on the premises, while the company supplying non-armed guards had increased the number of its personnel.
Saturday PUNCH noticed an armoured personnel carrier strategically placed at the Abule-Egba and Oko-Oba Road junction with armed riot policemen visible.
A mild drama was witnessed at the UBA branch in Ibafo, Ogun State, where all the ATM points had run out of cash, while desperate customers who wanted to get into the banking hall were kept under a canopy set up for COVID-19 restrictions. When a young lady approached the security guard and introduced herself as an employee of the bank and was granted access into the banking hall upon the presentation of her identity card, customers who had spent hours in the queue protested what they termed favouritism by the guard and insisted that they too would go inside the hall.
It took many minutes to pacify the angry customers, who accused the lender of deliberately punishing them, but an official of the bank came out to explain to them that the new notes supplied by the apex bank had been exhausted since Thursday.
A similar scene was witnessed at the Access Bank branch a few metres away as only two of the eight ATMs were dispensing cash with many customers in queue exchanging angry words.
At both the Ecobank and Zenith Bank branches inside the Mountain of Fire and Miracles Ministries’ Prayer City in Magboro, off the Lagos-Ibadan Expressway, the ATM terminals were out of cash. A security guard at the Zenith Bank branch told one of our correspondents that no new notes had been supplied for two days and that the N100 note loaded into the ATM terminals had been exhausted within one hour.
At the Ecobank branch in Ijaiye area of Lagos, only one out of about eight ATMs was dispensing the new N200 notes, while customers were being paid in old notes over the counter. This, however, elicited protests from many customers, who rejected the old notes.
A similar scene played out at the First Bank branch at U-Turn, Abule-Egba, where only one ATM was dispensing N100 note to customers. A customer, Mr Shola Kolade, who attempted to deposit N50,000, had to abandon the bank and patronised a Point of Sales agent outside the premises, who charged him N700 to collect the old notes from him.
Cashiers at the UBA, Abule-Egba, told Saturday PUNCH that they were awaiting fresh supply of new notes as what they had had been exhausted at the ATM terminals.
At Ecobank in Ojodu, only two ATMs were dispensing new N200, while the banking hall was flooded by depositors who wanted to beat the CBN deadline for the old notes to be deposited in banks.
A senior banker told Saturday PUNCH that supply of the new notes by the CBN had been insufficient to meet the needs of customers, adding that the apex bank was giving the banks only 10 per cent worth of new notes for the volume of old notes they returned to it.
He explained, “The CBN is giving the banks just 10 per cent of new notes of whatever amount of old notes we collect from customers and take to the CBN. For instance, if we mop up N1bn in old notes from customers and take that to the CBN branches, we are in turn given N100m in new notes to load into our ATMs.
“We were initially rationing what we load into the machines and mixing the old and new notes, but since the CBN imposed a penalty for dispensing old notes through the ATM, what we now do is to load the machines with the new notes and N100 that is not redesigned and once they get exhausted, we shut down the machines and wait till we get fresh supplies, which oftentimes take days.
Meanwhile, the Nigeria Police Force has asked banks to reach out to police divisions close to them for adequate protection of their facilities, especially ATMs, following the increasing crowds at banks and ATM points nationwide.
Reacting to fears of possible chaos that could threaten bank facilities, the NPF noted that it was the duty of the banks to resolve issues with their customers, adding that the police were only concerned about security.
The Force Public Relations Officer, Olumuyiwa Adejobi, said, “If any bank is having problems with regard to security, they should contact the Divisional Police Officer within their vicinity, as all banks are expected to work with their DPOs.
Extend deadline – Ganduje, others
The Kano State Government and Islamic clerics from the Tijjaniyya, Qadiriyya and Izala sects in the state have called on the CBN to extend the January 31 deadline for old naira notes.
The call was contained in the resolution of a meeting by Governor Abdullahi Ganduje, top government officials, and Islamic clerics at the Government House on Thursday.
The meeting, according to a statement by the Chief Press Secretary to the Deputy Governor, Hassan Musa Fagge, on Friday, noted that economic activities had been paralysed in Kano due to hardship caused by the shortage of the new notes.
The Chairman of MURIC in the state, Muhammad Aliyu, in a statement on Friday, said the January 31 deadline had almost grounded businesses in Sokoto, Kebbi and Zamfara states, because of people’s refusal to accept the old naira notes for commercial transactions out of fear of their inability to deposit the notes in commercial banks.
Sunday operations
In order to beat the deadline for the deposit of old notes, some banks have extended their work days to include Sunday. In notices sent to their customers, the banks said old notes should be brought in for deposit on Sunday as they had made provisions to receive them.
First Bank said in a notice to its customers, “This is to notify the general public that all our branches will be open on Saturday and Sunday just to receive cash.
“All old naira notes of series 200, 500 and 1,000 will cease to be in use from the 31st of January.”
Similarly, GTBank stated in a notice to customers, “Avoid the rush, deposit your old naira notes today. Dear customer, kindly be reminded that by Tuesday, January 31, 2023, the former naira series of N200, N500 and N1,000 notes will no longer be recognised as legal tender.”
Ecobank said in a notice titled, ‘Don’t let that money go to waste!!!’, “Dear customer, this is to inform you that our branches will be open this Saturday and Sunday for your cash deposit only. Time: 10.00am to 3.00pm.
“The old N200, N500 and N1,000 notes will cease to be legal tender after Tuesday, January 31, 2023. Hurry now to beat the deadline. https://punchng.com/new-naira-banks-beef-up-security-against-customers-attacks/ 2 Likes
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Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by gtrust: 3:12pm On Jan 28, 2023 |
Just make the money available and bring in more staff to count and take back the old notes 18 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by PrinceOfLagos: 3:15pm On Jan 28, 2023 |
Bank transfer is the way to go for now for me 67 Likes 4 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Olachase(m): 3:29pm On Jan 28, 2023 |
Them never see anything by 31st jenuary kasala go burst I never even see the #200 & #500 for eye or touch the only one #1000 way day my hand I day keep ham like baby no be juju be that ![cry](https://www.nairaland.com/faces/cry.gif) 117 Likes 8 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by gozmok1(m): 3:41pm On Jan 28, 2023 |
say no to vote buying 38 Likes 4 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Hoelujohn: 3:52pm On Jan 28, 2023 |
Olachase: Them never see anything by 31st jenuary kasala go burst I never even see the #200 & #500 for eye or touch the only one #1000 way day my hand I day keep ham like baby no be juju be that ![cry](https://www.nairaland.com/faces/cry.gif) Na the same shoe we dey ooo. I dey guard the last new 1k note wey dey my hand like say tomorrow no dey 55 Likes 1 Share |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Loliip: 4:09pm On Jan 28, 2023 |
Crazy He explained, “The CBN is giving the banks just 10 per cent of new notes of whatever amount of old notes we collect from customers and take to the CBN. This is a deliberate act from cbn to mop up cash from circulating. 41 Likes 3 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Hendrixky: 4:09pm On Jan 28, 2023 |
Them dey fear |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by GoodHardDickk: 4:09pm On Jan 28, 2023 |
Time for bankers and bank security to start forming Demi gods with super powers.
Obi is coming to rearrange and liberate this country. All these rubbish will stop by Feb 25 when Obi has been declared president 60 Likes 4 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by EmmyDJourno: 4:10pm On Jan 28, 2023 |
Nigeria my country ![cool](https://www.nairaland.com/faces/cool.png) After this present round of shege anybody wey vote APC na Professor of Mumu ![grin](https://www.nairaland.com/faces/grin.png) 60 Likes 7 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Bome01(m): 4:10pm On Jan 28, 2023 |
Nigerians and fire brigade approach...smh 2 Likes 1 Share |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Dshocker(m): 4:12pm On Jan 28, 2023 |
Wahala wahala wahala.....
We stress too much, just to get it, like Omotola Jalade Ekeinde said. 5 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by tnerro1(m): 4:12pm On Jan 28, 2023 |
I still dey where I wan buy pizza ooo, I do transfer e don pass 1 hour e never still drop, which kin country be dis self ![](/faces/huh.png) 29 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Sammy07: 4:12pm On Jan 28, 2023 |
PrinceOfLagos: Bank transfer is the way to go for now for me Gtb service was poor yesterday 7 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Johnken1234: 4:13pm On Jan 28, 2023 |
Where is Buhari please?? Do we still have President in this Country? He should address the citizens on this issue please. 9 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Think9ja(m): 4:13pm On Jan 28, 2023 |
If you're an APC supporter, you should be worried about what just happened in Zamfara at the APC presidential rally.
I won't tell you what happened, go and watch the video.
It'll take something special (like Buhari's support) to stop Atiku next month.
Northerners are mostly for Atiku now 11 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by WonderManly(m): 4:13pm On Jan 28, 2023 |
Ẹhẹn!... 2 Likes
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Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by dayleke: 4:13pm On Jan 28, 2023 |
Dem neva see anything o..
😡😡😡😡
Today is the 28th. |
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Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Sammy07: 4:14pm On Jan 28, 2023 |
tnerro1: I still dey where I wan buy pizza ooo, I do transfer e don pass 1 hour e never still drop, which kin country be dis self ![](/faces/huh.png) Johnken1234: Where is Buhari please?? Do we still have President in this Country? He should address the citizens on this issue please. I thought some of Una said na to punish Politicians. You guys are yet to understand why the new notes are scarce 25 Likes 3 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by goodyvin02(m): 4:14pm On Jan 28, 2023 |
We will be alright eventually |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Benniemann(m): 4:15pm On Jan 28, 2023 |
People for this country don too suffer.. it is well o 2 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Ybholy(m): 4:15pm On Jan 28, 2023 |
President no dey address the country 😔😔😔
Very bad of him and his teams 6 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Blaze14k: 4:16pm On Jan 28, 2023 |
We are gradually learning from our past 2 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Juanmike(m): 4:16pm On Jan 28, 2023 |
Johnken1234: Where is Buhari please?? Do we still have President in this Country? He should address the citizens on this issue please. Are you coming from the states? 6 Likes 2 Shares |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by bjayx: 4:16pm On Jan 28, 2023 |
Govt suffering masses 2 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by Oromoni619: 4:17pm On Jan 28, 2023 |
Good one
We move
Check my signature if you're interested and don't know how to do it |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by jiz: 4:17pm On Jan 28, 2023 |
Dear Nigerians, all these hardship too shall pass ! Even BAT that Buhari is using his economy template self is suffering and lamenting. Voting leaders who value power more than people will only bring more hardship. What is driving your presidential candidate? Love for People or Love for Power
Vote Wisely 8 Likes |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by MrJames007: 4:18pm On Jan 28, 2023 |
Wait o, are we still allowed to use the old 100, 50, and 20 notes? Since the new note came in only 3 denominations, if I buy something change remain, how we go do am ![](/faces/huh.png) 1 Like |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by jaxxy(m): 4:19pm On Jan 28, 2023 |
No extension Sleekfingers:
I think , they will extend it.......they will definitely announce it on Monday Midnight. The extension will only make genuine people relax and give criminals and vote buyers more time. it is pointless to extend it. |
Re: New Naira: Banks Beef Up Security Against Customers’ Attacks by dele1727: 4:19pm On Jan 28, 2023 |
EmmyDJourno: Nigeria my country ![cool](https://www.nairaland.com/faces/cool.png) After this present round of shege anybody wey vote APC na Professor of Mumu ![grin](https://www.nairaland.com/faces/grin.png) ![grin](https://www.nairaland.com/faces/grin.png) Choose what you want and stick to it... Is it good that the deadline should stay so as to punish Tinubu and prevent vote buying Or if Labour party was in power they will extend the deadline to make it easy for the people unlike the APC. Or if Labour party was in power, they will have sacked Emefiele for his policy that is putting the citizens through hell and so admits that emefiele is an idiot.. Choose your pick and stick to your opinion 8 Likes |