“CBN Tackles Cash Scarcity: Hotline and Email Channels Launched for Public Complaints”

The Central Bank of Nigeria (CBN) has taken a significant step to address the persistent cash scarcity at Automated Teller Machines (ATMs) across the nation. In a move designed to enhance transparency and responsiveness, the apex bank announced the release of dedicated telephone numbers and email addresses for Nigerians to report issues of cash unavailability.

This announcement, made via the official X (formerly Twitter) handle of Nigerian Stories, underscores the CBN’s commitment to ensuring that citizens have seamless access to cash, a critical component of day-to-day transactions in the country.

According to the statement, the initiative aims to create a direct feedback mechanism between the public and the regulatory body, enabling swift interventions where necessary. The CBN recognizes the frustration and economic impact caused by cash shortages, particularly for small businesses and individuals in rural areas where digital payment systems are less prevalent.

The CBN urged Nigerians to report any instances of ATMs running out of cash, machines dispensing lower denominations only, or prolonged outages. Citizens can use the provided hotlines and email addresses to lodge their complaints, ensuring they include key details such as the ATM’s location, the name of the bank, and the specific issue encountered.

This proactive measure comes at a time when cash scarcity has sparked widespread concerns, with many Nigerians expressing dissatisfaction over their inability to access funds. By establishing these complaint channels, the CBN demonstrates its responsiveness to public grievances and its intent to hold financial institutions accountable for service delivery.

Observers see this as a potential game-changer in restoring confidence in the banking system, especially as Nigeria continues to push for a cashless economy. It also highlights the role of public feedback in shaping effective monetary policies and ensuring service efficiency.

For those seeking to report cash scarcity, the CBN has assured that complaints will be promptly addressed, and offenders may face sanctions where negligence or intentional hoarding of cash is proven.

This bold move by the CBN serves as a reminder of its role as a custodian of Nigeria’s financial ecosystem, committed to fostering stability and accessibility for all citizens.