The Central Bank of Nigeria (CBN) has introduced new measures to address issues related to cash withdrawals from bank branches and ATMs. Speaking at the 59th Annual Chartered Institute of Bankers of Nigeria (CIBN) conference, the CBN Governor, Olayemi Cardoso, announced that, effective December 1, 2024, customers encountering difficulties during cash withdrawals are urged to report such incidents directly to the apex bank via designated phone numbers and email addresses provided for each state.
Cardoso emphasized that the CBN will ensure widespread dissemination of detailed guidelines to raise public awareness about the reporting process. He warned financial institutions against engaging in deliberate acts of sabotage, stating that such actions would attract the severest penalties.
The governor reassured stakeholders that the CBN remains committed to maintaining a robust cash buffer to meet the nation’s needs, particularly during periods of heightened demand such as the festive season and year-end activities. These measures, he noted, are part of ongoing efforts to enhance the efficiency and reliability of Nigeria’s financial system.
