Nigeria: Full List - CBN Sanctions 9 Banks for Failing to Dispense Cash Via ATMs
- The Central Bank of Nigeria fined nine deposit money banks a total of N1.35 billion for failing to ensure cash availability via automated teller machines during the festive season.
- Each bank was fined N150 million for non-compliance with the CBN's cash distribution guidelines, following spot checks on their branches.
- The CBN warned that further violations would lead to swift and decisive sanctions, emphasizing its commitment to maintaining cash flow.
- Acting Director of Corporate Communications at the CBN, Mrs. Hakama Sidi Ali, stated that the fines would be debited directly from the banks' accounts with the CBN.
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Total News Sources0
Leaning Left3Leaning Right0Center2Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 40%
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