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Home Business CBN CAUTIONS BANKS, POS OPERATORS OVER AVAILABILITY OF THE NAIRA

CBN CAUTIONS BANKS, POS OPERATORS OVER AVAILABILITY OF THE NAIRA

The Central  bank of Nigeria has frowned  at such inappropriate actions
by  some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators
affecting the availability of cash and disrupting the seamless circulation of the Naira.
In a statement signed by the ,Ag. Director, Corporate Communications   Sidi-Ali Hakama
The CBN therefore warns banks and PoS operators to desist from such activities as relevant sanctions shall be meted out to those found wanting.
 Adding that the Apex bank is  investigating the reported cases capable of undermining the smooth running of the economy.
Meanwhile, members of the public are encouraged to use alternative payment channels as well as report any case of unauthorized activities, such as capping and hoarding, by banks
or PoS agents to the CBN branch in their locations or via the link:
https://forms.office.com/r/frZJ0f2hFQ to address complaints and inquiries on the subject.
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