CBN Cautions Banks, PoS Operators Over Availability of The Naira

CBN Cautions Banks, PoS Operators Over Availability of The Naira

…Provides Digital Feedback Box To Address Complaints

The attention of the Central Bank of Nigeria (CBN) has been drawn to alleged cases of
collusion between some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators
affecting the availability of cash and disrupting the seamless circulation of the Naira.
The CBN frowns at such inappropriate actions by certain individuals and is investigating the
reported cases capable of undermining the smooth running of the economy.
The CBN has, therefore, warned banks and PoS operators to desist from such activities as
relevant sanctions shall be meted out to those found wanting.
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.

Sidi-Ali, Hakama (Mrs.)
Ag. Director, Corporate Communications