By John Ile, Abuja
Days after the Central Bank of Nigeria ordered Deposit Money Banks to guard against artificial cash scarcity in the country, findings revealed that the trend still persists in some parts of the country.
In a circular dated November 29, jointly signed by Acting Directors Solaja Olayemi (Currency Operations) and Isa-Olatinwo Aisha (Branch Operations), the CBN outlined measures aimed at improving cash availability.
According to the circular, the CBN directed banks to ensure efficient cash disbursement through both Automated Teller Machines and over-the-counter channels, warning of penalties for non-compliance.
The apex bank also urged customers experiencing challenges to report incidents with details such as account name, bank name, transaction amount, and date. Dedicated phone numbers and email addresses were released for Nigerians to report difficulties accessing cash.
However, as of Friday, Nigerians in some major cities told Sunday PUNCH that they still experienced significant difficulty obtaining sufficient cash over the counters and at ATMs in some commercial banks.
However, a banker in Ogun State accused the CBN of being insincere, claiming, “The amount given to us is not enough to load ATMs for two days.”