The Central Bank of Nigeria (CBN) has introduced dedicated phone numbers and email addresses for customers to report issues with accessing cash, whether over-the-counter (OTC) or at Automated Teller Machines (ATMs).
This initiative, outlined in a circular dated November 29, aims to enhance cash availability and streamline currency circulation nationwide. The circular, jointly signed by Solaja Olayemi, Acting Director of Currency Operations, and Isa-Olatinwo Aisha, Acting Director of Branch Operations, underscores the critical role of public participation in addressing cash scarcity.
“Deposit Money Banks (DMBs) are mandated to ensure efficient cash disbursement to customers both OTC and through ATMs,” the statement reads. “The CBN will strengthen its oversight responsibilities to enforce this directive and ensure compliance.”
CBN Governor Olayemi Cardoso called on bank customers to report any challenges in cash withdrawals through the newly established contact channels. Customers are advised to provide details such as the account name, the bank’s name, the transaction amount, and the date and time of the incident. These reports can be submitted to the relevant CBN branch in the state or sent via email to the designated address for that state.
The CBN reaffirmed its commitment to penalizing banks that fail to adhere to cash disbursement directives, emphasizing that these measures aim to resolve cash accessibility issues and improve overall currency circulation.
This announcement follows earlier warnings from the apex bank, requiring banks to prioritize cash disbursements through ATMs and warning of penalties for non-compliance.
“Please refer to the various engagements and interventions from the Central Bank of Nigeria (CBN) on the above subject aimed at addressing efficient and optimal currency circulation in the economy,” CBN said.
“As part of these ongoing efforts, we would like to draw your attention to the following directives and Guidelines:
“Deposit Money Banks (DMBs): DMBs are directed to ensure efficient cash disbursement to customers Over-the-Counter (OTC) and through ATMs as the CBN will intensify its oversight roles to enforce this directive and ensure compliance.
“General Public Reporting: Members of the public who are unable to obtain cash Over-the-Counter or through ATMs at DMBs, are encouraged to report these instances using the designated reporting channels and format provided below.
“This will assist CBN in addressing issues hindering the availability of cash and further improve currency circulation.”
“To make a report of a bank branch or ATM not dispensing cash, the CBN said affected customers are to provide the relevant details which include, “account name/name of the DMB/amount /time and date of Incident(s) amongst others via the following dedicated channels”.
“Phone Call: Designated phone number(s) of the CBN branch in the state where the incident(s) occurred,” the apex bank said.
“Email: or send an email of the incident to the designated email address for the state in which the incident(s) occurred.”
Below is the list of designated numbers and emails for customers to use:
