CBN Releases Phone Numbers to Report Banks Without Cash in ATMs.

As the end of year festivities commence in full, the Central Bank of Nigeria (CBN) has charged bank customers to report difficulty in getting cash at banks or Automated Teller Machines (ATMs) effective Sunday December 1, 2024.

The apex bank said it would as part of its  Payment System 2025 goals, be reviving the eNaira to foster cross border payments.

CBN Governor, Olayemi Cardoso speaking at the 2024 Bankers Dinner said banks face stringent penalties if they fail to make cash available to customers in the banking halls as well as in their ATMs.

Reading the riot act to banks in the country, Cardoso said the apex bank is also concerned about delays in settlement of transactions in the financial system. It stated that there will be strict penalties for banks who fail to comply with cash availability and prompt settlement of transactions.

He raised concerns “over recent delays in some payment gateways in settling financial transactions. Trust is fundamental to fostering digital transactions, and we must take every necessary step to preserve that trust in our payment systems. These delays often disproportionately affect vulnerable segments of our population. To address this, we will impose strict penalties on non-compliant institutions to safeguard consumer trust and ensure swift redress mechanisms are in place.

“We also recognize the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians. To address this, we are conducting spot checks across Deposit Money Banks (DMBs) and will impose penalties on underperforming institutions.

“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. Guidelines will be distributed widely to raise public awareness. We also urge full regulatory compliance by all stakeholders, including Mobile Money Operators and PoS Agents, to promote digital transaction channels and improve service delivery. I repeat, financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties.

For customers having challenges CBN asked customers to contact CPD via email at cpd@cbn.gov.ng or contact@cbn.gov.ng, call 234 7002255226, or directly complain on its website.

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