Banks colluding with PoS operators to disrupt naira circulation, says CBN

The Central Bank of Nigeria has cautioned PoS operators over cash availability.

This was made known in a statement signed by the Acting Director of Communication and Public Relations, Sidi Ali, on Thursday.

The CBN noted that there is a collusion between some Deposit Money Banks and Point-Of-Sale operators affecting the availability of cash and disrupting the seamless circulation of the Naira.

The apex bank has warned both parties to immediately desist from such acts or face the law.

The apex bank’s reactions came after public outcry that the naira is still not accessible to Nigerians while PoS operators harp on the opportunity to exploit customers.

Credit: Prince Epeni B Donokoromor