Cash Scarcity: CBN Goes though on Banks and PoS Operators
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators to put an end to their collusion causing cash scarcity and disrupting the Naira’s circulation.
Expressing disapproval of these actions, the CBN in a statement signed by the Mrs. Hakama Sidi-Ali, Ag. Director Corporate Communications said it is actively investigating such cases, recognizing their potential to destabilize the economy.
The CBN issued the stern warning to banks and PoS operators, emphasizing imminent sanctions for those engaging in such activities.
In the interim, the public is urged to explore alternative payment channels and report any unauthorized practices—such as capping and hoarding—by banks or PoS agents directly to the CBN branch in their vicinity or via the provided link: [CBN Complaints and Inquiries](https://forms.office.com/r/frZJ0f2hFQ).
