CBN To Sanction Banks Linked To Cash Hawkers …C0NTINUE READING HERE >>>
The Central Bank of Nigeria (CBN) has announced stringent penalties against Deposit Money Banks (DMBs) found diverting cash to hawkers, as part of its ongoing efforts to ensure responsible currency distribution.
In a circular dated November 13, 2024, the apex bank stated that any bank linked to cash seized from hawkers would face a 10 per cent fine on the total value of the withdrawn funds.
Subsequent violations will attract an incremental penalty of per cent.
The circular, signed…
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