CBN finally gives reasons for cash scarcity, sends warnings to banks limiting fund

  • It has been established that employee actions at banks were reportedly preventing money from flowing into the economy
  • This is on the back of reports that the banks were limiting money to customers and that ATMs were constantly empty
  • The CBN also acknowledged that bank executives who own PoS terminals give operators priority to maintain their business

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

The activities of bank staff members were allegedly impeding the cash flow in the economy, and as a result, the Central Bank of Nigeria (CBN) read the riot book to banks yesterday.