CBN Urges Bank Customers to Report Cash Withdrawal Challenges
Oru Leonard
The Central Bank of Nigeria (CBN) has called on bank customers nationwide to report any difficulties they encounter while withdrawing cash from Automated Teller Machines (ATMs) or bank branches. This directive was announced by the CBN Governor, Olayemi Cardoso, during the 2024 Annual Bankers Dinner in Lagos.
Cardoso acknowledged the ongoing challenges with cash availability at ATMs, which he noted disproportionately affect ordinary Nigerians. To address this issue, the CBN will conduct spot checks on Deposit Money Banks (DMBs) and impose penalties on underperforming institutions.
Effective December 1, 2024, customers are encouraged to report any cash withdrawal difficulties directly to the CBN through designated phone numbers and email addresses for their respective states. The CBN has provided contact channels for customers to report their challenges, including email addresses cpd@cbn.gov.ng or contact@cbn.gov.ng, phone number 234 7002255226, or directly on the CBN website.
The CBN has promised to provide necessary support to banks to meet cash demand during high-pressure periods like the festive season. Financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties, Cardoso warned.
The 59th Annual Bankers Dinner took place on November 29, 2024, in Lagos, organized by the Chartered Institute of Bankers of Nigeria (CIBN). The event featured a keynote address by the Central Bank of Nigeria (CBN), Governor, Olayemi Cardoso, who emphasized the importance of youth staying in Nigeria to contribute to its development.
