Nigerian banks have disputed charges that they are to blame for the paucity of redesigned naira notes, which has caused economic hardship for the citizens.
The Association of Corporate Affairs Managers of Banks (ACAMB) expressed sympathy for Nigerians’ pain as a result of the revised cashless policy and the redesigned naira on Monday.
Rasheed Bolarinwa, the President, stated in a statement made available to Naija News that the banks could not be the problem because they had already donated about N100 billion to the system.
Newly Redesigned Naira Now In Banks, Ready For Issuance – Emefiele
Bolarinwa added that the monies were spent on establishing and maintaining cutting-edge electronic channels in order to provide clients with real-time digital financial transactions.
He stated that 80 percent of Nigerians today enjoy digital/cashless services, ranging from internet banking to mobile apps, Automated Teller Machines, ATMs, Point of Sales, PoS, merchants, mobile wallets, Unstructured Supplementary Service Data, USSD, codes, agents, and digital franchise.
According to ACAMB, the promises have resulted in citizens having access to Africa’s most advanced digital financial services industry and one of the world’s top ten real-time payment markets.
Following that, the financial institutions declared their full support for the Central Bank of Nigeria’s cashless strategy.
They did, however, indicate that they were working with stakeholders to overcome the difficulties presented by the policy’s implementation.
Circulating Redesigned Naira: Banks Still Issuing Outdated Notes
“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.”
According to Bolarinwa, ATMs are loaded on a regular basis, and cash is distributed under the supervision of CBN Inspectors and anti-graft authorities.
ACAMB, on the other hand, urged clients to be patient and refrain from resorting to violence against any bank, its workers, or banking facilities.
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