We Have Sufficient Stock Of Currency Notes — CBN Cautions Against Panic Withdrawals
The Central Bank of Nigeria (CBN) has assured the public of the availability of sufficient stock of currency notes for economic activities in the country.
CBN Director, Corporate Communications, Isa AbdulMumin, made this known in a statement on Thursday, amidst reports of alleged scarcity of cash at banks, automated teller machines (ATMs), Points of Sale and among Bureaux de Change (BDCs) in some major cities across the country.
The apex bank said its findings revealed the seeming scarcity was largely due to high volume withdrawals from the CBN branches by Deposit Money Banks (DMBS) and panic withdrawals by customers from the ATMs
It urged the public to guard against panic withdrawals and as well, embrace cashless payment to reduce pressure on the use of physical cash.
We Have Sufficient Stock Of Currency Notes — CBN Cautions Against Panic Withdrawals
The Central Bank of Nigeria (CBN) has assured the public of the availability of sufficient stock of currency notes for economic activities in the country.
CBN Director, Corporate Communications, Isa AbdulMumin, made this known in a statement on Thursday, amidst reports of alleged scarcity of cash at banks, automated teller machines (ATMs), Points of Sale and among Bureaux de Change (BDCs) in some major cities across the country.
The apex bank said its findings revealed the seeming scarcity was largely due to high volume withdrawals from the CBN branches by Deposit Money Banks (DMBS) and panic withdrawals by customers from the ATMs
It urged the public to guard against panic withdrawals and as well, embrace cashless payment to reduce pressure on the use of physical cash.
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