The Central Bank of Nigeria (CBN) has imposed fines of ₦150 million each on nine deposit money banks for failing to dispense cash through their Automated Teller Machines (ATMs) during the 2024 yuletide season. This amounts to a total penalty of ₦1.35 billion.
The affected banks include Keystone Bank, Globus Bank, Providus Bank, Sterling Bank, and five others.
Hakama Sidi Ali, the Acting Director of Corporate Communications at the CBN, confirmed the development, emphasizing the importance of seamless cash flow for maintaining public trust and economic stability.
