Residents of Ondo State are experiencing acute cash shortages at commercial banks across the state, with just one week remaining until the Ondo State governorship election.
Reports indicate that politicians from the major parties have been withdrawing large amounts of cash from banks, allegedly to fund vote-buying efforts.
Sources within the banking sector revealed that withdrawals in recent weeks have been unusually high, as politicians primarily from the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) have reportedly colluded with bank managers to facilitate these large transactions.
One bank source stated, “Politicians are withdrawing millions of naira with the assistance of managers, who allow the withdrawals after receiving settlements.
This is why banks have little cash left to serve regular customers.”
Bank customers have voiced frustration over the cash scarcity.
A customer named Tunde recounted his experience, saying, “I went to withdraw N50,000 but was told I could only get N2,000.
They claimed there was little cash from the Central Bank of Nigeria (CBN).”
Another customer noted that he was limited to N10,000 despite requesting N30,000, and was advised to use Point-of-Sale machines outside.
A commercial bank manager, speaking anonymously, confirmed that limited cash availability has been exacerbated by politicians mopping up funds.
“Politicians withdraw close to N300 million weekly from some branches.
With such amounts gone, we can’t meet regular customer demands for cash.”
Accusations from both parties have stirred responses.
The PDP’s Publicity Secretary, Mr. Kennedy Peretei, dismissed claims of vote-buying, stating, “The PDP does not need to buy votes.
Our candidate’s popularity is sufficient for a win.”
APC’s Director of Media and Publicity, Mr. Steve Otaloro, also denied the allegations, calling them a “desperate attempt to tarnish the party’s image” and emphasizing the party’s commitment to free and fair elections.
Otaloro added, “We challenge anyone to provide evidence of these claims.
The APC remains focused on transparent elections and trusts the people of Ondo State to make informed choices.
