Cash crunch: Banks lock out customers in Lagos

Banks in some parts of Lagos, on Tuesday morning, shut their doors against desperate customers seeking to withdraw cash amid the Central Bank of Nigeria (CBN) cash swap policy. 

At the Town Planning, Ilupeju area of Lagos, a new generation bank shut its gates as early as 9 am to customers who could not carry out transactions.

At Obanikoro, two new generation banks also locked their gates against customers. Visibly angry customers gathered in front of the banks lamenting the development. 

Some of them accused the CBN and powerful government forces of plotting to frustrate the forthcoming general elections. 

A mild drama played out in one of the new generation banks on town planning when a man openly cried about inability to access cash.

He said he needed to do an urgent transfer for his sick wife’s surgery. 

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