The Central Bank of Nigeria (CBN) yesterday warned banks and Point-of-Sale (POS) operators against acts undermining availability and flow of the naira across the country.
The bank in a statement issued by its acting Director, Corporate Communications, Mrs. Sidi-Ali Hakama, alluded to an alleged cases of collusion between banks and PoS operators which had reportedly affected the availability of cash as well as disruption of the seamless circulation of the naira.
The apex bank in its statement, also said it was investigating reported cases capable of defeating the smooth running of the economy.
Hakama, therefore, warned banks and PoS operators to desist from such activities, saying relevant sanctions shall be meted out to those found wanting.
She said, “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.
“Meanwhile, members of the public are encouraged to use alternative payment channels as well as report any case of unauthorised activities, such as capping and hoarding, by banks or PoS agents to the CBN branch in their locations.”
