NLC ULTIMATUM: CBN DIRECTS BANKS TO INCREASE CASH FLOW TO CUSTOMERS

The Central Bank of Nigeria (CBN) has directed all commercial banks in the country to make adequate  cash available for their customers through over the counter and Automated Teller Machine (ATM). 

The instruction which also involves physical operation by the banks on  Saturdays and Sundays is a direct fallout of the protest plan by the Nigeria Labour Congress (NLC) calling on the CBN to review its new cashless policy, reduce the level of cash crunch to ease the suffering of the masses. 

Announcing the instruction, the apex bank disclosed that funds have been disbursed from its vault to all the commercial banks for successful implementation of the procedures adding that the CBN governor Mr Godwin Emefiele will personally coordinate the team that will monitor compliance by the banks.