As the current naira scarcity horror enters the fourth week, the Central Bank of Nigeria (CBN) has read the riot act to banks and PoS operators who are allegedly colluding to hoard or impede the smooth circulation of cash to all nooks and crannies of the country.
This comes as the apex bank unveiled a digital feedback platform to address the swelling complaints of naira scarcity.
CBN Spokesperson, Mrs Sidi Ali Hakama, in a statement on Thursday said: “the attention of the Central Bank of Nigeria (CBN) has been drawn to alleged cases of collusion between some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators affecting the availability of cash and disrupting the seamless circulation of the Naira. The CBN frowns at such inappropriate actions by certain individuals and is investigating the reported cases capable of undermining the smooth running of the economy.
“The CBN has, therefore, warned banks and PoS operators to desist from such activities a relevant sanctions shall be meted out to those found wanting”, she explained.
Mrs Hakama encouraged the public to use alternative payment channels as well as report any case of unauthorized activities, such as capping and hoarding, by banks or PoS agents to the CBN branch in their locations.
SOURCE: THESUN
