Yenagoa residents decry distress over new naira notes.

The deadline given by CBN on the new naira note exchange is biting hard on resident of Yenagoa.

A Radio Bayelsa staff reporter Grace Orumieyefa who monitored the situation said the currency crisis has reached its zenith as residents have no access to the new currency.

According to citizens, they pay high service charges before they could collect money from a Point Of Sale popularly known as POS as a result imposing hardship on the masses.

Speaking, some residents within Tombia axis who expressed sadness, Mrs. Tokoni Jesse and Mr. Amaebi Perekimi said they paid 5 hundred naira charges to withdraw 10 thousand naira of the new note.

They attributed the increase of charges by POS dealers to the inability of commercial banks not having enough of the new notes.

Also, a Civil Servant Mr. Amos Tobison who was unable to collect his money from the bank counter and was at a cross road said the rationale behind the new notes was not well conceived and thought out by federal government and financial authorities thereby putting pressure and pains in the lives of citizens.

Mr. Tobison said he withdrew 20 thousand naira with 1 thousand charged as against 3 hundred naira; he called on government at all levels to take action to reduce the suffering of the people.

Some other residents who explained their ordeal on the difficulty they faced with Automated Teller Machine (ATM) said most of the machines have few notes or found empty.

Findings across bank branches in some areas of the state 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.

Meanwhile some POS operators Mrs. Amaka Andy and Mr. Donald Benjamin said the upward review of withdrawal charges was due to the difficulties in getting cash from banks.

The duo said they spend hours to get just little cash from banks to run their businesses.