Banks suffer cash shortage, close ATM operations

Banks in several parts of Lagos suffer cash shortage, leading to the closure of ATM operations. The various banks have been unable to dispense cash at their respective ATM terminals.

Direct withdrawals in the banking halls over the counter are restricted to certain amount per day.

At some of the banks visited, the daily limit is set at N20,000; in some other banks it is N50,000. These are amounts customers are to directly withdraw from the banking hall.

Some of the banks lack higher currency denominations like N1,000, N500 notes; they dispense mostly N200 notes.

The various ATM terminals have not been operational; those that functions minimally do not operate for long.

This is the situation in various commercial banks around Ikeja metropolis and the environs.