In a bid to ensure seamless access to cash through Over-the-Counter (OTC) transactions and Automated Teller Machines (ATMs), the Central Bank of Nigeria (CBN) has released a nationwide directory for reporting instances of cash unavailability.
The directive, effective from December 1, 2024, aims to improve currency circulation and address challenges affecting cash availability.
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EKO HOT BLOG reports that a circular titled “Cash Availability Over the Counter in Deposit Money Banks (DMBs) and Automated Teller Machines (ATMs),” dated November 29, 2024, was jointly signed by Solaja Olayemi, the acting Director of Currency Operations, and Isa-Olatinwo Aisha, the acting Director of Branch Operations. It outlines the CBN’s ongoing efforts to ensure efficient cash distribution.
The circular emphasized that Deposit Money Banks must comply with efficient disbursement directives, both OTC and via ATMs, as the CBN intensifies oversight to enforce compliance.
Members of the public experiencing difficulties accessing cash are encouraged to report such incidents.
The apex bank provided clear instructions for reporting:
The CBN assured that these measures would help identify and resolve issues impeding cash distribution while improving the overall circulation of currency.
The directory containing contact details of CBN branches across Nigeria’s 36 states is available for public use to facilitate swift reporting and resolution.
For further inquiries, members of the public can refer to the CBN’s official communication channels or consult the detailed guidelines provided by the apex bank.
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