The Central Bank of Nigeria (CBN) has threatened to sanction banks and Point of Sales (POS) operators found to be involved in the current scarcity of Naira in the society.
The apex bank in a statement on Thursday, urged members of the public to report infractions regarding the hoardings of naira by banks, POS operators to any nearest apex bank branch.
A statement signed by the Ag. Director of Corporate Communications, Mrs.Hakama Sidi-Ali, reads:
“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 as relevant sanctions shall be meted out to those found wanting.
“Meanwhile, members of the public are encouraged 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”.
Regarding this, members of the public are advised to report any site of monetary disposition agents that are involved in this act.
