CBN Directs Banks to Load ATMs Across the Nation

CBN Directs Banks to Load ATMsATMs Across the Nation

The Central Bank of Nigeria (CBN) has mandated all commercial banks to load their Automated Teller Machines (ATMs) nationwide with cash to ensure adequate cash availability.

Newera News gathered that  this directive is part of a broader effort to address cash shortages and improve the circulation of banknotes. Additionally, banks have been instructed to operate on weekends to facilitate currency disbursement.

CBN Directs Banks to Load ATMs Across the Nation

To enforce compliance, the CBN has implemented monitoring systems and announced penalties for banks that fail to dispense cash effectively. Over the next three months, the CBN plans to inject N1.4 trillion into circulation to ease cash flow challenges. Governor Yemi Cardoso emphasized the importance of stakeholder cooperation to ensure cash reaches those in need.