The Central Bank of Nigeria (CBN) has launched an initiative to address cash circulation challenges by introducing dedicated hotlines and email addresses for public reporting of cash access difficulties.
In a circular dated 29 November, jointly signed by Solaja Olayemi and Isa-Olatinwo Aisha, the CBN mandated deposit money banks (DMBs) to ensure efficient cash disbursement through over-the-counter (OTC) and ATM channels.
“Members of the public who are unable to obtain cash over the counter or through ATMs at DMBs are encouraged to report these instances using the designated reporting channels,” the circular stated.
The directive emphatically outlined specific reporting requirements: “Affected individuals must provide relevant details including account name, DMB name, amount, time, and date of incident(s) via designated phone numbers or email addresses for their respective states.”
The CBN emphasized its commitment to intensifying oversight and enforcing compliance, aiming to enhance currency availability and improve public cash access.
The initiative took effect from 1 December, representing the latest effort to stabilize Nigeria’s financial system amid persistent cash access complaints.
Affected individuals are encouraged to report incidents comprehensively, specifying the bank’s name, branch location, and precise occurrence details. The bank has strategically provided state-specific contact details to facilitate effective problem resolution.
“This will assist the CBN in addressing issues hindering the availability of cash and further improving currency circulation,” the circular added.
