The Central Bank of Nigeria (CBN) has urged customers to report any difficulties they experience when withdrawing cash from bank branches or ATMs starting December 1, 2024. CBN Governor Olayemi Cardoso made this announcement at the 2024 annual bankers dinner in Lagos.
The Central Bank of Nigeria has asked bank customers to report difficulties experienced with withdrawing cash from bank branches or ATMs from December 1.
“Effective December 1, 2024, customers are encouraged to report any difficulties withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states,” the CBN governor said.“I repeat, financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties.”
Cardoso said trust is fundamental to fostering digital transactions, stressing the CBN will take every necessary step to preserve that trust in payment systems.He also said delays often disproportionately affect vulnerable segments of the population, adding that apex bank would apply penalties on non-compliant institutions to safeguard consumer trust and ensure swift redress mechanisms.
Cardoso said Nigeria would exit the grey list on the Financial Action Task Force by second quarter of 2025, adding that enforcement plans against money laundering, cybercrime, fraud, corruption, among others are being put in place.On his part, Pius Olanrewaju, president and chairman of the CIBN, said 2024 had been an eventful year for the banking industry and the economy.
Nigeria Central Bank Cash Withdrawal Difficulties Report CBN Governor Olayemi Cardoso Bankers Dinner
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