The Central Bank of Nigeria (CBN), has frowned at the actions of some Deposit Money Banks (DMBs) and Point-of-Sale (PoS) operators which it is said, is affecting the availability of cash and disrupting the seamless circulation of the Naira.
The Apex bank’s Spokesperson Sidi-Ali, Hakama (Mrs.) made this known while reacting to alleged cases of collusion between the DMBs and PoS operators.
She explained that the bank is investigating the reported cases of inappropriate actions by certain individuals which it said, is 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”, she noted.
Meanwhile, she encouraged members of the public 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.
