The Central Bank of Nigeria (CBN) has introduced designated contact channels for customers to report withdrawal challenges.
Customers facing issues withdrawing cash at banks or ATMs can now reach out directly to the CBN. The move follows increasing concerns over cash shortages and delays at automated teller machines and over-the-counter services.
CBN Governor, Olayemi Cardoso, urged bank customers to report any difficulties encountered while accessing cash through available contact points. These steps aim to improve the overall efficiency of cash disbursement across the nation, ensuring customers’ needs are met.
In a recent circular, the CBN emphasized the importance of adhering to cash disbursement regulations and reporting failures promptly. It noted that Deposit Money Banks (DMBs) must prioritize cash availability at both ATMs and over-the-counter transactions.
The CBN has set clear directives for banks, warning of penalties if they fail to meet these requirements. The central bank’s actions are part of its broader strategy to enhance currency circulation and ensure financial stability throughout the country.
To streamline the reporting process, the CBN has provided designated phone numbers and email addresses for customers to report incidents. Affected individuals should include relevant information, such as the bank name, incident time, and transaction amount. These details will help the CBN address the underlying issues causing cash unavailability. The central bank also plans to intensify oversight to ensure banks comply with these directives, contributing to a smoother cash flow.
This new initiative reflects the CBN’s commitment to tackling cash distribution challenges, ensuring that all Nigerians can access funds without unnecessary delays. The CBN urges customers to use these contact channels effectively to support its efforts in improving financial services nationwide.
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