Governor Cardoso of the CBN warns of penalties for banks failing to meet cash availability standards at ATMs, emphasizing the need for regulatory compliance and economic reforms.
The Central Bank of Nigeria (CBN) has warned banks about imposing fines for non-compliance with cash availability standards, addressing the ongoing shortage of cash at ATMs. Governor Olayemi Cardoso made this announcement at the annual Bankers' Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN). He emphasized the need for strict regulations and penalties to ensure banks meet their obligations. Cardoso also discussed Nigeria's missed potential of N6.
2 trillion due to its less flexible foreign exchange regime, stressing the importance of economic reforms to strengthen the country's resilience
Central Bank Of Nigeria ATM Shortages Bank Fines Economic Reforms Foreign Exchange
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