Despite the directive by the Central Bank of Nigeria, CBN, to banks to ensure that there is no cash scarcity in the country, bank ATMs are still empty.
Nigerians in some major cities have reported that they still experienced significant difficulty obtaining sufficient cash over the counters and at ATMs in some commercial banks.
A United Bank for Africa customer in Abuja said his bank dispensed N20,000 over the counter, while ATMs dispensed N20,000 to customers and N10,000 to customers of other banks as of Friday.
A Zenith Bank official in Delta State revealed that their branch paid a maximum of N20,000 to customers, both over the counter and through ATMs.
Iwitness recalled that the CBN in a circular dated November 29, jointly signed by Acting Directors Solaja Olayemi (Currency Operations) and Isa-Olatinwo Aisha (Branch Operations), outlined measures aimed at improving cash availability.
According to the circular, the CBN directed banks to ensure efficient cash disbursement through both Automated Teller Machines and over-the-counter channels, warning of penalties for non-compliance.
The apex bank also urged customers experiencing challenges to report incidents with details such as account name, bank name, transaction amount, and date. Dedicated phone numbers and email addresses were released for Nigerians to report difficulties accessing cash. (Additional Report from Punch)
