Long queues disappear gradually as banks’ cash payment to customers improves

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Long queues being experienced in the nation’s banks in the last two months has reduced following the increase in cash payment to the customers

The reduction in the number of customers was due to Central Bank of Nigeria sustained disbursement of cash to Deposit Money Banks which started last week Friday.

Blueprint visit to some banks branches located at Ojota, Ogudu and Oregun area in Lagos State indicated majority of banks branches had enough cash to pay to customers on daily basis.

Blueprint monitoring of the cash payment in the last three days showed that customers are allowed to withdraw cash ranging from N50000 to N200000 as against the previous situation where customers could only withdraw in most cases between N5000 and N20000.

Specifically, the First Bank and Stanbic Ogudu branches N20000 from their Automated Teller machines and N100,000 over the counter.

Also United Bank for Africa and Union Bank branches visited paid between N10,000 and N20000 from ATM while N50000 and above are paid over the counter.

The bank staff who spoke under condition of anonymity told Blueprint that the apex bank has maintained cash supply to the bank in the last few days, adding the the situation has to some extent reduced pressure in the banking halls.

The staff also said that the majority of crowd seeing in the banking premises today are those waiting to either make request for new ATM card or have issue with their ATM cards.

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