CBN to banks: Ensure efficient over-the-counter, ATM cash disbursements

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) across the country.

The CBN gave the directive in a statement jointly signed by the apex bank’s acting Director of Currency Operations, Muhammed Olayemi, and acting Director of Branch Operations, Aisha Isa-Olatinwo, on Tuesday, December 3, 2024.

The directive is coming amidst complaints of acute scarcity of cash by bank customers across the country.

The CBN also urged Nigerians who are unable to obtain cash, either over the counter or through ATMs to report such instances using designated reporting channels and formats.

CBN releases telephone numbers to report cash scarcity at ATMs

The apex bank stated: “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 the required details should include the account name, name of the DMB, amount, time, and date of the incident.

The CBN enjoined aggrieved bank customers to use dedicated phone numbers of the apex bank’s branch in the state where the incident occurred or through to designated email addresses.

The Star