In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. Each bank was fined ₦150 million for non-compliance, in line with the CBN’s cash distribution...
The Organised Private Sector has kicked against the decision of the Central Bank of Nigeria to limit the withdrawals from Point-of-Sale agents, stressing that the apex bank is not in touch with reality. CBN introduced a daily cash-out transaction limit of N100,000 per individual customer for Point-of-Sale agents as part of new measures to adva...
•ATM Days after the Central Bank of Nigeria ordered Deposit Money Banks to guard against artificial cash scarcity in the country, findings have revealed that the trend still persists in some parts of the country. In a circular dated November 29, jointly signed by Acting Directors Solaja Olayemi (Currency Operations) and Isa-Olatinwo Aisha (Bra...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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