Yuletide: CBN probes scarcity of funds in ATMs in Lagos

Central Bank of Nigeria (CBN) said it will investigate the scarcity of funds witnessed by customers in most Automated Teller Machines (ATMs) in Lagos State.

Mr Osita Nwanisobi, CBN‘s acting director, Corporate Communications, told the News Agency of Nigeria (NAN), that ATMs were introduced so as to ease the sufferings of the people

Nwanisobi spoke on the heels of customers complaining that the proliferation of Agent Banking is responsible for ATMs not having money to dispense any more. NAN reports that people have alleged this was due to banks conspiracy with CBN.

The director also described as “preposterous” insinuations that the apex bank conspired with commercial banks to ensure there was no money in the machines. “It is highly preposterous for anyone to say that CBN connived with banks to deprive people of their money this season.

“The primary purpose, for which ATMs were introduced, is to ease the sufferings of Nigerians and to make banking easier and convenient.

“I assure the public that CBN will investigate the matter,’’ he said.

Meanwhile, a check by NAN reveals that some ATMs that are not dispensing cash are those that are either faulty or looted and vandalised during the #ENDSARS protests.

NAN