{"id":104889,"date":"2023-12-22T11:10:04","date_gmt":"2023-12-22T10:10:04","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes"},"modified":"2023-12-22T13:26:35","modified_gmt":"2023-12-22T12:26:35","slug":"naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes","title":{"rendered":"Naira scarcity: CBN blames Banks, PoS operators for hoarding banknotes"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Central Bank of Nigeria, CBN, has cautioned Deposit Money Banks and Point-of-Sale operators against hoarding banknotes as the Naira scarcity persists a few days before Christmas celebration.<\/p>\n

The apex bank\u2019s acting director of Corporate Communications, Sidi Ali, made this known in a statement on Thursday night.<\/p>\n

The CBN stressed that there is a collusion between some Deposit Money Banks and Point-Of-Sale operators, affecting cash availability and disrupting the Naira\u2019s seamless circulation.<\/p>\n

Accordingly, the CBN said it has commenced investigating the matter, warning banks and PoS operators to desist from such acts or face sanction.<\/p>\n

CBN\u2019s reactions came as public outrage continued to mount over the scarcity of Naira notes, while PoS operators cash on the opportunity to do brisk business.<\/p>\n

CBN has also advised Nigerians to use alternative payment platforms and channel their complaints via a digital platform provided in the statement.<\/p>\n

\u201cThe attention of the Central Bank of Nigeria has been drawn to alleged collusion between some Deposit Money Banks and Point-Of-Sale operators affecting the availability of cash and disrupting the seamless circulation of the Naira.<\/p>\n

\u201cThe CBN frowns at such inappropriate actions by certain individuals and is investigating the reported cases capable of undermining the smooth running of the economy.<\/p>\n

\u201cThe CBN has, therefore, warned banks and PoS operators to desist from such activities as relevant sanctions shall be meted out to those found wanting.<\/p>\n

\u201cMeanwhile, 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 or via the link attached to address complaints and inquiries on the subject\u201d, the CBN stated.<\/p>\n

For months, Nigerians in many parts of the country have continued to lament the cash shortage despite CBN\u2019s assurance of its availability.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Central Bank of Nigeria, CBN, has cautioned Deposit Money Banks and Point-of-Sale operators against hoarding banknotes as the Naira scarcity persists a few days before Christmas celebration. The apex bank\u2019s acting director of Corporate Communications, Sidi Ali, made this known in a statement on Thursday night. The CBN stressed that there […]<\/p>\n","protected":false},"author":84,"featured_media":104888,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,503,9717,254,6183],"class_list":["post-104889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","tag-naira-scarcity","tag-nigeria","tag-pos"],"yoast_head":"\nNaira scarcity: CBN blames Banks, PoS operators for hoarding banknotes - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria, CBN, has cautioned Deposit Money Banks and Point-of-Sale operators against hoarding banknot ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Naira scarcity: CBN blames Banks, PoS operators for hoarding banknotes\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria, CBN, has cautioned Deposit Money Banks and Point-of-Sale operators against hoarding banknot ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-22T10:10:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-22T12:26:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1703231552.530637.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Naira scarcity: CBN blames Banks, PoS operators for hoarding banknotes\",\"datePublished\":\"2023-12-22T10:10:04+00:00\",\"dateModified\":\"2023-12-22T12:26:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes\"},\"wordCount\":330,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/12\/sm_1703231552.530637.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"CBN\",\"naira scarcity\",\"Nigeria\",\"PoS\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/naira-scarcity-cbn-blames-banks-pos-operators-for-hoarding-banknotes\",\"name\":\"Naira scarcity: CBN blames Banks, PoS operators for hoarding banknotes - 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