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Banks not hoarding new naira notes, says ACAMB

THE Association of Corporate Affairs Managers of Banks (ACAMB) has faulted claims that banks are hoarding the new naira notes but expressed optimism that the scarcity of the currency would end soonest.

“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,” ACAMB President Rasheed Bolarinwa said in a Sunday statement.

“ATMs are being loaded every day and cash is being paid as provided by the CBN, as regularly being checked by CBN Inspectors and other regulators including anti-graft agencies.”

While reiterating its support for the CBN’s cashless policy, ACAMB noted that banks have in the past weeks rolled out extra measures to ease the flow of naira notes.

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