CBN To Sanction Banks For Disbursing Cash To Naira Hawkers Instead Of ATMs
By Ewache Ajefu
The Central Bank of Nigeria (CBN) has directed banks to give greater priority of cash disbursement through automated teller machines (ATMs), instead administering through individuals.
In a statement on Friday, Solaja Olayemi, acting director, currency operations department at CBN, also warned that banks disbursing naira notes to persons hawking the Nigerian currency will be penalised and appropriately sanctioned.
The apex bank said as the Country approaches yuletide season, it will intensify efforts with relevant security agencies to monitor development to curtail new Naira notes sale and abuse.
