Amid a surge in demand for more cash by bank customers as the Yuletide season approaches, some Deposit Money Banks have slashed the withdrawal limits of their customers.
Findings across bank branches in some key cities in the country revealed that many customers could not withdraw the total amount they needed over the counter due to lack of adequate amount of cash on the part of the banks.
Some bank customers, who spoke to our correspondents, said bank officials simply reduced the amount their customers wanted to withdraw and asked them to use alternative channels to carry out their outstanding transactions.
Furthermore, it was learnt that most of the banks did not load all their ATMs, a situation that worsened the plight of the customers.
The development, it was learnt, affected several operators of Point of Sale business who could not withdraw enough cash from the banks and the ATMs to run their businesses properly.
Customers from several parts of the country including Lagos, Ogun, Ondo, Taraba, and Abuja shared their grievances in separate interviews with our correspondents on Tuesday.
Some of the customers observed that the problem had started since last week.