Customers of some microfinance banks in Osun State have threatened to embark on a protest over their inability to withdraw money from their bank accounts.
The Punch reported that the affected banks are Olubasiri Microfinance, Ibuaje Microfinance and Osogbo Microfinance Banks, all located within Osogbo metropolis.
An event centre employee, Radeke Gbadamosi, said, “I have been here since 9 am and they are yet to attend to me. They told me cash to give me was not available. Office hour is almost over. If this persists, it will lead to serious protests. Some of their officials were scared after some people threatened to attack them. They have sneaked out of the premises.”
An official in one of the affected banks, who spoke under condition of anonymity, blamed the current situation on the Central Bank of Nigeria (CBN)’s failure to include microfinance banks in its plan for the replacement of old naira notes with new ones was responsible for the collapse of operations of the banks.
“In the last three weeks, commercial banks that are giving us money to run have stopped doing that. Each of us operators of microfinance banks has commercial banks working with us to ensure that we have smooth operations.
“But in the last three weeks, those commercial banks have not been giving us money. They told us that the CBN had directed them to stop giving us money. In Osun here, we have 22 microfinance banks and our officials met CBN officials in the Osogbo branch of the Apex Bank and they told us we can’t get money.
“They said we can only get money through some super PoS operators that they have assembled. Imagine licensed microfinance banks getting money through PoS operators that are not licensed or regulated by anyone. Many of our officials did not come to work to avoid being attacked by our customers. That is the situation we have found ourselves in,” the bank official said.