The Naira Redesign Policy adopted by CBN in January 2023 came with a lot of inconveniences for Nigerians.
The entire people of the nation couldn’t access the new naira notes because they submitted the old ones in their possession as directed by Emefiele. It was a decoy to an economy that is free of notes.
Now that battle is hanging on a balance, holding the Executives and Judiciary on either sides. Which side will it tilt to. The Central Bank’s quietness these days is deafening.
This policy’s implementation caused hardship to people who were used to making transactions with cash.
Nigerians had to face the harsh cashless policy with new learnings, carrying out the majority of their transactions via bank transfers.
However, the unusual influx of users on bank applications caused glitches, as the bandwidth of the apps could not accommodate the influx of requests.
Currently, customers of different banks complain about delayed credit and debit alerts, app downtime, reversal of payments, and so on.
Surprisingly, social media users have applauded and mentioned the names of online banking apps that have stood the test of time with swift delivery throughout.
Some of them are:
Opay
Fidelity
Kuda
Providus
Stanbic IBTC
FCMB
Ecobank
Have You Read:Â Buhari And INEC Chairman Used Naira Swap To Manipulate Election – Dino Melaye
If you have to congratulate your bank for making the hall of Fame list, please do.
Indeed, it is not easy to handling the population we have; millions rushing for cash access.
Unfortunately, the trouble plaguing the banks have further confirmed claims that their IT guys were leaving Nigeria in droves.
Truly, the Nigerian banking sector has experienced a brain drain, as the majority of their tech guys have traveled out of the nation’s whose reward for hard work is poor.
This is a challenging time for Nigerians as people cannot access the new naira notes from banks and POS agents.
We are in it with you and we will guide as much as we can.
