Gatekeepers News reports that the apex bank made this plea in a statement on Thursday night while addressing “alleged reports” of cash shortages across the nation.
The CBN also advised Nigerians to embrace alternative modes of payment which would reduce pressure on using physical cash.
The statement read, “The attention of the Central Bark of Nigeria (CBN) has been drawn to report of alleged scarcity of cash at banks, automated teller machines (ATM), Points of Sale and among Bureaux de Change (BDC) in some major cities across the country.
“Our findings reveal that the seeming cash scarcity in some locations is due largely to high volume of withdrawals from the CBN branches by Deposit Money Banks (DMBs) and panic withdrawals by customers from the ATMs.
“While we note the concerns of Nigerians on the availability of cash for financial transactions, we wish to assure the public that there is sufficient stock of currency notes for economic activities in the country. The branches of the CBN across the country are also working to ensure the seamless circulation of cash in their respective states of operation.
“Members of the public are, therefore, advised to guard against panic withdrawals as there is sufficient stock to facilitate economic activities. Nigerians are also advised to embrace alternative modes of payment which would reduce pressure on using physical cash.”
The South-East Governors Forum has resolved to meet President Bola Tinubu to seek the release…
Sokoto state government has stated that Sultan lacks the constitutional power to appoint anyone. Gatekeepers…
President Bola Ahmed Tinubu has appointed a new board for Family Homes Funds Limited (FHFL),…
Nigerian Railway Corporation (NRC) generated N1.42 billion in revenue by transporting 675,293 passengers on federal…
Traders and shipping data have shown that Dangote oil refinery in Nigeria is ramping up…
A Kano State High Court on Tuesday adjourned the hearing of an application of the…