The Association of Corporate Affairs Managers of Banks (ACAMB) has denied claims that banks are hoarding the new naira notes thereby fuelling the ongoing naira scarcity.
Videos have emerged of bankers allegedly sabotaging the efforts of the Central Bank of Nigeria (CBN) by hoarding the new Naira notes and creating scarcity, as the Independent Corrupt Practices Commission (ICPC) has arrested an official of one of the commercial banks for alleged sabotage.
However, ACAMB, in a statement signed by its President, Rasheed Bolarinwa and made available to Newsbreak Nigeria, the body said 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.
According to ACAMB, 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.
“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. 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. 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.
“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. 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 read in part.
ACAMB implored Nigerians to consider the big picture of the advantages of the redesigning of the naira and enhanced cashless policy, and therefore exercise patience, as stakeholders work to ensure normalcy.
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