FRI, NOV 03 2023-theGBJournal|Central Bank of Nigeria (CBN) said Thursday that the seeming cash scarcity in some locations is largely due to high volume withdrawals from the CBN branches by Deposit Money Banks (DMBs) and panic withdrawals by customers from the automated teller machines (ATMs).
The apex bank in a statement to calm market nerve, boosted of sufficient stock of currency notes for economic activities in the country, and warned against panic withdrawals.
”The branches of the CBN across the country are also working to ensure the seamless circulation of cash in their respective states of operation,” the CBN added.
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