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. EDITOR’S PICKS … Read more
There has been a scarcity of naira notes since the CBN announced plans to phase out the old naira notes. Despite the apex bank extending the deadline to phase out the old notes, queues as the ATMs have persisted. The CBN has pledged that the queues will “disappear soon.” Eko Hot Blog reports that the … Read more
The CBN has threatened to sanction the banks refusing to load the new naira notes in their ATMs. Eko Hot Blog reports that the Central Bank of Nigeria (CBN) says commercial banks that fail to comply with the directive of loading the redesigned naira notes in their automated teller machines (ATMs) will face penalties. EDITOR’S … Read more
CBN, ATM The Central Bank of Nigeria (CBN) says it will investigate the scarcity of funds witnessed by customers in most Automated Teller Machines (ATMs) in Lagos State. The CBN‘s Acting Director, Corporate Communications, Mr Osita Nwanisobi told the News Agency of Nigeria (NAN), on Wednesday, that ATMs were introduced so as to ease the … Read more