Telephone numbers, CBN, ATMs, ATM card, Banks
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The Central Bank of Nigeria has urged Nigerians to report any difficulties withdrawing cash from bank branches or ATMs to the CBN from December 1, 2024.

CBN Governor Olayemi Cardoso said this at the 2024 annual bankers’ dinner organised by the Chattered Institute of Bankers of Nigeria (CIBN) in Lagos on Friday, November 29, 2024.

Cardoso urged bank customers to make reports through designated phone numbers and email addresses for their respective states.

Cardoso, who was coffered fellowship of the CIBN, said the guidelines would be distributed widely to raise public awareness.

He called for full regulatory compliance by all stakeholders, including Mobile Money Operators and PoS agents, to promote digital transaction channels and improve service delivery.

The CBN Governor said: “We also recognise the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians.

“To address this, we are conducting spot checks across Deposit Money Banks (DMBs) and will impose penalties on underperforming institutions.

“Effective December 1, 2024, customers are encouraged to report any difficulties withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states.

“I repeat, financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties.”

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According to him, the CBN will continue to maintain a robust cash buffer to meet the country’s needs, particularly during high-demand periods such as the festive season and year-end.

Cardoso said the focus was to ensure seamless cash flow for Nigerians while fostering trust and stability in the financial system.

He stated that the payment system vision initiative for 2025 was to further enhance confidence in the nation’s payment system.

The CBN boss assured that payment gateways in settling financial transactions will become better in 2025 as delays will be addressed.

Cardoso said trust was fundamental to fostering digital transactions, stressing that the CBN must take every necessary step to preserve that trust in payment systems.

Cardoso said delays often disproportionately affect vulnerable segments of the population, adding that the CBN would apply penalties on non-compliant institutions to safeguard consumer trust and ensure swift redress mechanisms.

He added that the CBN, in 2025, would prioritise initiatives including implementing an open banking framework, advancing contactless payment systems, and expanding its regulatory sandbox.

“Additionally, we will issue revised guidelines for agency banking and continue to strengthen electronic payment channels,” the CBN Governor said.

The Star

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