Currency swap crisis bites in Kwara as banks shut down operations

Written by on February 10, 2023

The crisis which trailed the currency swap across Nigeria continued unabated in Kwara State despite the Supreme Court ruling restraining the Federal government and the Central Bank of Nigeria, CBN, from withdrawing the old naira notes from circulation from February 10, 2023.

The Supreme Court gave the order temporarily based on an application filed by three APC Northern state governors, Kogi, Kaduna and Zamfara.

It was gathered that while many banks closed down their businesses today, those running skeletal services did not meet the expectations of their customers in terms of availability of cash.

Many of the banks running skeletal services still dispense very old and tattered N50 notes to customers.

It was also gathered that queues are still visible at some banks running skeletal services and most ATMs do not dispense the needed new currencies.

A bank customer, who spoke to newsmen in Ilorin today, lamented that though he was lucky to get to the main banking hall, on Unity Road, only N1, 000 of N50 denomination was given to him across the counter on Thursday.

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