Residents of Ibadan, the capital city of Oyo State, expressed their distress on Friday regarding the cash shortage they are facing, raising concerns that it might negatively affect their Christmas celebrations.

In separate interviews with NAN, the residents lamented the difficulties they encountered in accessing their money from banks.

Entrepreneur Mr. Niyi Olawuyi described the experience as harrowing, as some banks were only able to provide customers with as little as N5,000 or a maximum of N10,000.

Olawuyi highlighted that individuals who relied on cash for business transactions and trading were also grappling with network issues when attempting to make money transfers.

Another entrepreneur, Mr. Wale Adio, revealed that his bank only allowed customers to withdraw N5,000, and anyone in need of more had to resort to using point-of-sale (POS) operators.

“Many individuals engaged in business and needing funds for their daily operations are struggling to access the necessary funds,” Adio stated.

Similarly, a private organization employer, Mr. Sola Famakinwa, expressed his disappointment with the cash shortage, particularly during the festive season.

Famakinwa described the situation as unfortunate and unpleasant, emphasizing the inconvenience of waiting in long queues at the bank to access money. He further highlighted that some banks had reduced their daily withdrawal limit from N20,000 to N5,000. This reduction would undoubtedly impact the Christmas preparations of numerous people.

“The option of transfers is not helpful due to the usual network problems. People are suffering because they cannot access even the small amounts they have in the bank,” Famakinwa added.

However, a civil servant, Mrs. Aina Ojo, stated that she could not relate to the cash shortage crisis as she had nothing to queue in the bank for.

“I am simply awaiting the payment of the arrears of the N35,000 wage award promised by the Federal Government to enjoy this festive period. That’s all,” Ojo explained.