CBN Directs Banks to Ensure Efficient Cash Disbursement via Over-the-Counter and ATM Channels

CBN Directs Banks to Ensure Efficient Cash Disbursement via Over-the-Counter and ATM Channels

By Fly Cable News reports

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

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

This move follows widespread complaints from bank customers across the country about severe cash shortages.

The CBN also urged the public to report any difficulties in accessing cash, either through over-the-counter services or ATMs, using the designated reporting channels. Such reports will help the CBN address issues impacting cash availability and improve currency circulation.

For locations where ATMs or bank branches are not dispensing cash, the CBN advised customers to provide details including their account name, the bank’s name, the amount, and the time and date of the issue.

Aggrieved customers are encouraged to use the CBN branch’s contact numbers or designated email addresses to report these incidents.