\n
.Laments Lack of Money<\/b><\/p>\n
By Onyekachi Eze<\/b><\/p>\n
Even as other States have started accessing funds from the financial institutions, residents of Imo State appear to be receiving the brunt.<\/p>\n
Trumpeta<\/i>\u00a0Newspaper roving reporter who monitored activities in some banks in Imo State reports that out of the banks scattered in Owerri metropolis, only few in less than three are dispensing cash<\/p>\n
Recall that in the advert of the 2023 general elections, the Central Bank of Nigeria Governor, Godwin Emefiele announced what seem like a cashless policy.<\/p>\n
The exercise started with the scarcity of naira as a means of the redesigned\u00a0N<\/s>1000,\u00a0N<\/s>500 and\u00a0N<\/s>200 denomination.<\/p>\n
The withdrawal limit hit to\u00a0N<\/s>20,000 and later to\u00a0N<\/s>10,000 according to most of the banks.<\/p>\n
While Nigerians, with Imo State residents involved in the cash crunch, hope heighted immediately a reverse policy judgment was delivered by the Supreme Court.<\/p>\n
With the re-circulation of the old currencies together with the new designed notes, nothing changed.<\/p>\n
At one of the banks situated along Ikenegbu axis yesterday, an aged woman, (names withheld) was revived from heart attack after many hours of waiting to obtain a sum of\u00a0N<\/s>50,000 from the said bank for her health issue failed.<\/p>\n
Eye witness account told our correspondent that the woman who came as early as 5am and was given a tally number was disappointed by the bank when they finally opened the hall for the day\u2019s operations.<\/p>\n
\u201cAfter staying from 5am till 9am, she was told that there was no money in the bank. On hearing this, the old woman collapsed and was later revived by the mammoth crowd also waiting to get cash. After all ransacking inside the bank, by the staff,\u00a0\u00a0it was only\u00a0N<\/s>9,000 they gave her instead of the\u00a0N<\/s>50, 000 that she wanted to withdraw,\u201d said the witness.<\/p>\n
From there to other locations, similar story was observed. Neither inside the banking hall nor at the ATMs dispensed cash.<\/p>\n
It was further learnt that private POS operators are on the gain as they transact at exorbitant rates for transfer or for withdrawals.<\/p>\n
\u00a0With this development many Owerri residents, include those at the hinterlands have lamented of dwindling the economy due to scarcity of cash flow.<\/p>\n","protected":false},"excerpt":{"rendered":"
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