Banks in Ibadan Comply with CBN Directive

Long queues reduced at commercial banks in Ibadan, the Oyo State capital, weekend with the banks complying with the directive of the Central Bank of Nigeria (CBN) to open on Saturday and Sunday. 

During a visit to some of the banks, including First Bank, Union Bank, Fidelity Bank and Zenith Bank Sunday, it was observed that the long queues of customers entering the banks reduced drastically with others at the ATM machines. 

It was observed however that banks which paid their customers had limits to what they pay, ranging from N5,000, N10,000 and N20,000.

An official of one of the banks, while speaking on the condition of anonymity, said for a customer to be paid an amount such as N20,000, such a person must put his or her BVN down with a thumb print to ensure that they do not withdraw above the specified limit.

A customer at one of the banks, Mr. Kayode Oladejo, said though he was not aware of the directive by the CBN, he decided to enter the banks when he saw others doing so.

”I was not aware about the directive of opening at weekends but I was just passing by and saw people so I entered to see if I can get some cash,” he said.

Another customer, Mrs. Joke Bamidele, while welcoming the development, said she believed that banks were complying with the CBN directive to work in order to shelve the planned protest by the Nigeria Labour Congress (NLC).

”In my view, I believe that the CBN compelled the banks so that the protest by NLC will not hold. This is good because it will give people more time to access cash,” she said.

On her part, a school teacher, Mrs. Kemi Balogun, lauded the CBN for the directive, stating that the development would help reduce the cash crunch being experienced by the people.