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The Central Bank of Nigeria (CBN) has ordered banks to prioritise cash disbursement through automated teller machines (ATMs). The apex bank gave the directive on Friday, in a circular to banks titled ‘Mystery shopping & spot checks on cash disbursement activities of deposit money banks (DMBs)”. In the circular signed by Solaja Olayemi, acting director, […]
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Throughout the weekend, customers of several commercial banks in Osogbo, the Osun State capital, were left stranded with the situation made worse by the poor services provided by Automated Teller Machines (ATMs). Many of the ATMs failed completely to dispense cash and were observed to be empty from Saturday through Sunday. The same scenario is […]
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The long queues at commercial banks in Lagos have suddenly disappeared since Friday, March 24. This comes after the deployment of more banknotes by the Central Bank of Nigeria (CBN) into commercial banks, the News Agency of Nigeria (NAN) reports. The apex bank on Thursday, confirmed the evacuation of bank notes from its vaults to […]
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A bank manager in Osogbo, the Osun State capital has been arrested by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over Automated Teller Machines (ATMs) loaded with new Naira notes that were blocked from dispensing. The ICPC spokesperson, Azuka Ogugua, in a statement on Friday, disclosed that the cash bundles were loaded […]
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Point of Sales, POS operators in Kaduna state have increased their charges on money withdrawn as the scarcity of new notes worsens across the country. Although several POS operators have locked their business outlets following the scarcity of new notes, the few ones operating charged higher commissions as they only allowed customers to withdraw a maximum […]
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The Central Bank of Nigeria (CBN) has reviewed bank charges including ATM maintenance fee, electronic find transfer and bulk payments. The new development was disclosed in CBN’s new ‘Guide to Charges by Banks Other Financial and Non-Financial Institutions.’ According to the apex bank, the guideline applies to charges made by Banks Other Financial and Non-Financial […]
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