BREAKING: CBN Releases Phone Numbers, Emails To Report Banks Hoarding Cash From Customers

CBN has released phone numbers and emails to report banks hoarding cash via ATMs and over the counter from customers.

NaijaOnPoint Nigeria reports that the Central Bank of Nigeria (CBN) has released the phone numbers and emails of its branches in each of the county’s 36 states, as well as its Head office in Abuja, which it says, bank customers should use in reporting complaints of inability to obtain cash Over- the- Counter or through Automated Teller Machines (ATMs) at Deposit Money Banks (DMBs).

In a circular posted on its website on Tuesday, the apex bank said that in using the aforementioned channels to report DMBs’ branches or ATM locations across the country not dispensing, members of the public should provide relevant details,” which shall include account name/name of the DMB/amount/time and date of incident(s) amongst others.”

According to the circular, customers in Abakaliki, for instance, can report such incidents to its branch in Ebonyi State by sending an email to [email protected] or calling the phone number 08176657783.

In his address at the Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, last Friday, CBN Governor, Olayemi Cardoso, announced that with effect from December 1, 2024, bank customers who are unable to obtain cash from Over-the-Counter or make withdrawals from ATMs will be able to report directly to it through designated phone lines and emails for their states.

He acknowledged the ongoing issues related to cash availability at ATMs, stressing that measures are being implemented to resolve them. He also stated that the apex bank planned to conduct spot checks on DMBs to ensure compliance with cash supply regulations, adding that the regulator will impose penalties on underperforming institutions

He stated: “We recognise the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians.

“To address this, we are conducting spot checks across Deposit Money Banks (DMBs) and will impose penalties on underperforming institutions.

“Effective December 1, 2024, customers are encouraged to report any difficulties withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states.”

Cardoso promised that the CBN would provide the necessary support to banks to meet cash demand during high-pressure periods like the festive season.

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