…Provides digital feedback box to address complaints
The (CBN) has warned all deposit banks and Point of Sales (PoS)perators across the country against engaging in hoarding or any activity that will disrupt circulation of the Naira notes.
It added that relevant sanctions would be applied on any operator engaging in activities such as hoarding or capping.of the ñaira note.
The CBN, in a statement by its Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, said its attention has been drawn alleged cases of collusion between some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators affecting the availability of cash and disrupting the seamless circulation of the Naira.
Sidi-Ali who insisted that the apex bank does not tolerate such inappropriate actions from any individual, said investigation is already ongoing on the allegation.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to alleged cases of
collusion between some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators
affecting the availability of cash and disrupting the seamless circulation of the Naira
“The CBN frowns at such inappropriate actions by certain individuals and is investigating the reported cases capable of undermining the smooth running of the economy.,” the statement said.
The apex bank has therefore urged members of the public to use alternative payment channels and be courageous enough to report any case of unauthorized activities, such as capping and hoarding, by banks or PoS agents to the CBN branch in their locations or via the link:
https://forms.office.com/r/frZJ0f2hFQ to address complaints and inquiries on the subject.
