ADVERTISEMENT

CBN charges banks over cash disbursements

News Express |4th Dec 2024 | 280
CBN charges banks over cash disbursements

CBN Governor Cardoso




By KADIRI ABDULRAHMAN

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to ensure efficient cash disbursement to the general public over the counter and through Automated Teller Machines (ATMs).

The directive Is contained in a statement jointly signed by CBN’s Acting Director, Currency Operations, Muhammed Olayemi, and Acting Director, Branch Operations, Aisha Isa-Olatinwo.

The News Agency of Nigeria (NAN) reports that the directive is coming in the midst of complaints of acute scarcity of cash by bank customers across the country.

The apex bank also urged members of the public who are unable to obtain cash, either over the counter or through ATMs to report such instances using designated reporting channels and formats.

“This will assist the CBN in addressing issues hindering the availability of cash and further improve currency circulation.

“For DMB branches and ATM locations not dispensing cash, members of the public affected are to provide the relevant details,” it said.

It said that the required details should include account name, name of the DMB, amount, time, and date of incident.

It urged aggrieved bank customers to use dedicated phone numbers of the CBN branches in the state where the incident occurred or through to designated email addresses. (NAN)




Comments

Post Comment

Sunday, September 14, 2025 1:59 AM
ADVERTISEMENT

Follow us on

GOCOP Accredited Member

GOCOP Accredited member
logo

NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.

Contact

Adetoun Close, Off College Road, Ogba, Ikeja, Lagos State.
+234(0)8098020976, 07013416146, 08066020976
info@newsexpressngr.com

Find us on

Facebook
Twitter

Copyright NewsExpress Nigeria 2025