
The Central Bank of Nigeria (CBN) has imposed fines totaling ₦1.35 billion on nine deposit money banks (DMBs) for failing to ensure the availability of cash through automated teller machines (ATMs) during the festive season. Each bank is required to pay a fine of ₦150 million, which will be debited directly from their accounts with the CBN.
The affected banks are:
Providus Bank
Zenith Bank
United Bank for Africa (UBA)
Sterling Bank
Fidelity Bank
First Bank
Keystone Bank
Union Bank
Globus Bank
This enforcement highlights the CBN's commitment to ensuring seamless cash accessibility for Nigerians during critical periods.
Posted: at | |