In spite being bursted by security agencies, banks have said they are not Harding new naira notes.
The banks through the Association of Corporate Affairs Managers of Banks (ACAMB), a union of all image makers of the banks said the banks have been loading and dispensing cash even though long queues persists at the ATMs, most of them dried up, findings by our correspondent show.
Also their have been huge agitations accross the country over the scarcity of the new and old naira notes. Even the N50 and N100 notes are not available for citizens.
Rasheed Bolarinwa, President, ACAMB in a statement on Sunday said: “ACAMB affirms without any equivocation that Banks are not in any way hoarding or holding back naira notes or engaging in any act inimical to our avowed commitment to exciting customer experience.”
According to him, “ATMs are being loaded every day and cash is being paid as provided by the CBN, as regularly being checked by CBN Inspectors and other regulators including anti-graft agencies.”
the statement claimed that “in the past few hours, Banks have taken additional measures to quicken the flow of naira notes. These measures, among others, include deployment of extra technical supports for online payments, additional security at ATMs to ensure all-clock usage, technological back-up to reduce online downtime to the barest minimum, additional staff deployment to counters to attend to cash transactions and timely interbank and inter-branch networking to bridge any gap. We are confident that these measures, in addition to efforts by the regulatory CBN, will result in greater ease of access and cash liquidity.”
“The Federal Government and the CBN have reiterated similar readiness to address any constraint in the cyclical flow, including making adjustments, where necessary” he said. ACAMB urges Nigerian banking public to exercise patience and not to resort to any untoward behavior against Bank staff or banking facilities. Nigerian Banks, majority of which are publicly quoted, are owned by millions of Nigerians and provide employment to several millions of staff, who work 24/7 to ensure that the generality of Nigerians have reliable and secured, globally competitive banking services” the statement assured..
The statement indicated that cashless or digital transaction is also a boost to commerce and industry; as well as public finance. It is noteworthy that digitization of public finances of many states and at national level has led to phenomenal improvement in REVENUE GENERATION, which form the basis of improved infrastructural renewals Nigerians now cherish. It is also noteworthy that all stakeholders agreed on the importance and advantages of the redesigning of naira notes. The redesigning of naira notes safeguards the Nigerian economy and the country’s sovereignty, by strengthening the nation’s currency flow and control. We believe that ongoing concerted efforts will address the constraints currently being experienced in the cyclical flow of the new naira notes and the legal tenders generally.
ACAMB also indicated that the Nigerian Banks have invested an estimated total sum in excess of N100 billion in setting up and maintaining cutting-edge electronic channels over the past few years as part of ongoing commitment to seamless customer experience and real time digital financial transactions. From internet banking to mobile apps, Automated Teller Machines (ATMs), Point of Sales (PoS) merchants, mobile wallets, Unstructured Supplementary Service Data (USSD) codes, agents and digital franchises among others; not less than 80 per cent of Nigerians now enjoy one form of digital or cashless transaction or another, powered by investments by Nigerian Banks.
Nigerian Banks are currently working with the CBN to ensure that customers have access to cash through ATMs and other channels as well as Over-The-Counter (OTC) in the banking halls.
