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BREAKING: CBN Rolls Out Measures To Tackle Ongoing Cash Crisis
BREAKING: CBN Rolls Out Measures To Tackle Ongoing Cash Crisis
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n response to the persistent cash scarcity affecting the nation, the Central Bank of Nigeria (CBN) has announced a series of measures aimed at stabilizing the situation and improving liquidity.
Key Directives to Banks
The CBN has directed all commercial banks to prioritize cash disbursement to critical sectors, including individuals, small businesses, and rural communities. Additionally, banks have been mandated to extend their working hours and ensure ATMs are fully stocked with cash.
Enhanced Monitoring and Compliance
To ensure compliance, the CBN has deployed monitoring teams to oversee the implementation of these directives. Banks failing to adhere to the guidelines will face penalties, the apex bank warned.
Digital Transactions Encouraged
While addressing the cash crisis, the CBN has reiterated the importance of digital banking. Citizens
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