Naira Scarcity: Banks reopen in Benin after four-day closure
![Crowd at a bank used to illustrate the story](https://i1.wp.com/gazettengr.com/wp-content/uploads/Crowd-at-a-bank-used-to-illustrate-the-story.png)
Some commercial banks in Benin reopened for business on Monday after shutting down on February 16, following sporadic attacks on some facilities in the city.
Some banks came under violent attacks on February 15 by some customers, who were enraged by their inability to withdraw.
The angry customers destroyed some bank buildings, Automated Teller Machines (ATMs) and some vehicles belonging to bank officials.
It was reported that four persons died during the protest, which lasted several hours across some major roads in the capital city.
Consequently, the banks halted their services to avert further attacks and the destruction of their facilities.
Residents were, however, relieved to discover that some of the banks around Sapele Road, Mission Road and Aduwawa Axis of Benin reopened for services on Monday.
A correspondent who monitored the situation in the city reported long customer queues within and around the bank premises.
While many who got access to the banking hall were seen waiting to be paid over the counter, others clustered at the entrance gates and ATM points.
Some of the customers, who spoke on the development, said they were happy that some of the banks had reopened after the unrest.
A customer, Chioma Odiase, said, “We are happy that the sufferings we go through to get cash for our daily needs would soon ease with the reopening of the banks.”
The chairman, Manufacturers Association of Nigeria, Edo/Delta branch, Okwara Udensi, urged the Central Bank of Nigeria (CBN) to supply more old N200 notes to banks.
“The non-availability of cash in various bank branches is where the problem lies.
“The CBN should try as much as possible to push the cash to the banks.
“President Muhammadu Buhari has said that the old N200 note is now acceptable, so CBN should bring it back into circulation to augment the new notes already printed.”
(NAN)
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