Naira Scarcity: Banks And Taxis Shut Down In Ogun

Commercial banks in Abeokuta, the Ogun State, Southwest Nigeria remained shut on Wednesday while their Automated Teller Machines(ATMs) also did not dispense cash.

Gatekeepers News reports that commercial banks on Lalubu street, Okelewo, the business district of Abeokuta did not open for business on Wednesday except for Zenith bank, which rendered skeletal service to few customers but closed by noon.

Meanwhile, many taxi operators in the capital city have also withdrawn their cabs from the roads, this comes after the confusion over the deadline for the collection of old N200, N500, and N1000 notes.

The few ones working refused the old notes from passengers, leaving many commuters stranded.

A taxi driver Babayemi told The Nation that many of his colleagues have not been able to deposit their old notes.

Babayemi said the conditions for depositing the money with the Central Bank of Nigeria(CBN) are complex and cumbersome due to their literacy level.

He narrated how he took N7,800 he made from the transport business in the last few days to the CBN branch in Abeokuta on Tuesday but he was asked to visit the Apex bank’s portal to fill in some information and generate a code.