Economy
RESIDENTS of Benin have decried the man-hours spent queuing in banks and Automated Teller Machines (ATMs) in their bid to access both the new and old Naira notes.
A Correspondent of the News Agency of Nigeria (NAN) reports that Google defines man-hour as an hour regarded in terms of the amount of work that can be done by one person within this period.
Some of the residents, who spoke with a NAN correspondent on Monday in Benin, said that they now spend between eight to 12 hours in banking halls and ATM queues at the detriment of their businesses.
They decried the poor functionality of the mobile and Internet banking services, lamenting that the cashless policy was frustrating being the major cause of the long queues being witnessed in banks and ATM.
A petty trader, Mrs Obehi Ofure, said “we now spend more time in banks and ATM queues than we spend in our different businesses.
“Some persons come to queue up at the ATM as early as 2:00 a.m. so they can be among the first persons to access cash.
“I came to this First Bank ATM before 6 a.m , yet, I picked 135 as my number on the queue. I was surprised, I met a lot of persons both old and young already on the queue.
“The time is now almost 12: 30 p.m. and it has not gotten to my turn, the number being attended to now is 75; this is so painful’, she said.
Mr Timothy Omage, an artisan, told NAN that he was at the queue inside the banking hall to withdraw little cash he would use for daily transportation.
“I need cash for intra city transport fare, you cannot transfer N100, or N200 to a Keke rider.
“The banks should increase the amount of N50 and N100 Naira Notes being issued over the counter to customers,” he said.
A fashion designer, Mrs Grace Iyare said, “I will not waste my precious time queing at the ATMs,
if the mobile and Internet banking services are working.
“The transfer works better early in the mornings and late at nights; sometimes, bank transfers don’t even work at these hours.
“I have been trying to transfer N3,000 via mobile banking since on Saturday to someone who loaned me cash . Today is Monday, and the transfer has not worked.
Another bank customer, Miss Loveth Peters, a POS operator, who was also on the ATM queue, said most POS operators collected more charges due to time wasted on the queues to get cash.
“I have been here since early morning, it is now noon, and I have not been able to access money.
“Most ATMs don’t dispense more than 10,000 and payment over the counter is not more than N5,000,” she said.
NAN also observed that bank customers were still locked out outside the gates of banks as at 11:30 a.m., while long queues were seen at both entrances into the banking halls and ATMs points.
NAN also reports that some bank customers within the bank premises were there to complain about failed bank transactions with money debited from their accounts.
Most banks are no longer accepting deposits of old N200, N500 and N1,000 Naira notes, however, a few customers were seen at the bank to deposit such notes.
The long queues at the different ATM points in the city, have, become a new market for people hawking bottle and sachet water, soft drinks and snacks.
NAN reports that fuelling stations within Benin metropolis have began to reject the old N200, N500 and N,1000 Notes as payment option.
They told NAN that they were instructed by commercial banks to halt such collection.
However, some commuters and traders are still conducting business transactions with the old N200, N500 and N1,000 notes within Benin metropolis. (NAN)
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