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HomeBusinessNew Naira swap: Fidelity Bank assures customers of cash payment

New Naira swap: Fidelity Bank assures customers of cash payment

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In the wake of the Central Bank of Nigeria’s (CBN) directive to banks to pay cash over the counter (OTC) to customers, Fidelity Bank has assured its customers of cash payment across all its branches nationwide.

The CBN had directed banks to commence the payment of cash to customers over the counter with a maximum of N20,000 limit on daily withdrawals.

The move by the regulatory bank was to ease the pressure and scarcity of the newly redesigned banknotes across the country.

In a sharp reaction to the directive, Fidelity Bank Head of Corporate Communication, Meksley Nwagboh said the bank is ready to dispense cash to its customers across its branches nationwide.

“Our customers can rest assured that we are working to meet their banking needs. All our branches nationwide are open to customers to pay in their old notes and withdraw the new notes in accordance with the Central Bank of Nigeria’s policy on Naira redesign,” Nwagboh said in a statement.

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Nwagboh, therefore, enjoined customers of the bank to visit the nearest branch to carry out their banking transactions.

Reports indicated that federal civil servants abandoned their offices to jostle for cash at the Automated Machine Teller (ATM) stands in the Federal Capital Territory, Abuja on Thursday.

Our correspondents observed that several ministries, departments and agencies at the Federal Secretariat, Three Arms Zone, were deserted as the cash-strapped workers left their desks to queue at the ATM galleries and banking halls.

The cash scarcity had led to a decline in office attendance by civil servants.

An official with the ministry of science and technology confirmed that several of his colleagues have not been coming to work due to the non-availability of cash.

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