The Central Bank of Nigeria has issued a caution to Point-of-Sale (PoS) operators regarding cash availability, citing a collusion between some Deposit Money Banks and PoS operators disrupting the smooth circulation of the Naira.
The warning, conveyed through Acting Director of Communication and Public Relations, Sidi Ali, emphasizes the need for immediate cessation of such activities or facing legal consequences.
Responding to public concerns about limited naira accessibility, the CBN suggests utilizing alternative payment platforms and reporting unauthorized activities through a provided digital platform.
The statement underscores the CBN’s commitment to investigating reported cases that may undermine the economy and warns of sanctions for those found engaging in inappropriate actions.
