- Vowed to intensify its oversight roles to enforce this directive and ensure compliance
The Central Bank of Nigeria (CBN) has announced dedicated phone numbers and email addresses for customers to report difficulties in accessing cash either over the counter or at Automated Teller Machines (ATMs).
This was disclosed in a circular issued on November 29, as part of the apex bank’s efforts to improve cash availability and ensure efficient currency circulation across the country.
The statement jointly signed by Solaja Olayemi, Acting Director of Currency Operations, and Isa-Olatinwo Aisha, Acting Director of Branch Operations, the circular highlighted the importance of public participation in addressing cash scarcity.
“Deposit Money Banks (DMBs) are directed to ensure efficient cash disbursement to customers over the counter (OTC) and through ATMs,” the statement read.
“The CBN will intensify its oversight roles to enforce this directive and ensure compliance.”
To assist in resolving cash withdrawal challenges, CBN Governor Olayemi Cardoso urged bank customers to report incidents using the designated contact channels.
CBN emphasised that members of the public who are unable to withdraw cash should provide relevant details such as the account name, the name of the bank, the amount involved, and the time and date of the incident.
The details should then be shared by contacting the CBN branch in the state where the issue occurred or sending an email to the designated mail address for the state.
The apex bank also reiterated its commitment to penalizing banks that fail to comply with its directives on cash disbursement.
“This will assist CBN in addressing issues hindering the availability of cash and further improve currency circulation,” the statement added.