Tag: ATM
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CBN Cracks Down on Banks: Empty ATMs and Cash Hawking Draw Heavy Penalties
The Central Bank of Nigeria (CBN) has launched a severe crackdown on banks that fail to maintain functional ATMs or are caught selling ‘mint’ cash to currency hawkers, following widespread public outcry over empty ATMs while Point of Sale (POS) merchants maintain steady cash supplies. Steep Penalties for Non-Compliance “For the avoidance of doubt, it…