The Central Bank of Nigeria (CBN) says it will investigate the scarcity of funds witnessed by customers in most Automated Teller Machines (ATMs) in Lagos State.
The CBN’s Acting Director, Corporate Communications, Mr. Osita Nwanisobi, said that ATMs were introduced in order to ease the sufferings of the people.
Nwanisobi spoke following complaints by customers that the proliferation of Agent Banking is responsible for ATMs not having money to dispense any more.
Bank customers have alleged that this is due to banks’ conspiracy with CBN.
The director also described as “preposterous” insinuation that the apex bank conspired with commercial banks to ensure there is no cash in the machines.
“It is highly preposterous for anyone to say that CBN connived with banks to deprive people of their money this season.
“The primary purpose, for which ATMs were introduced is to ease the sufferings of Nigerians and to make banking easier and convenient.
“I assure the public that CBN will investigate the matter,’’ he said.
Meanwhile, the News Agency of Nigeria (NAN) reports that some ATMs that are not dispensing cash are those that are either faulty or looted and vandalised during the #ENDSARS protests.
Those ATMs that are not faulty, but due to network issues, are also not dispensing cash thus causing scarcity of funds, thereby leaving customers to patronise Agent Banking.
According to CBN, Agent Banking is “the provision of financial services to customers by a third party (agent) on behalf of a licensed deposit-taking financial institution and/or mobile money operator.
At the First Bank ATMs gallery in Iganmu, Lagos on Wednesday, the machines were not dispensing cash, but the ones in the banking hall were working well.
Also the First Bank branch in Egbe, Isolo road, the four machines, all reportedly in good conditions, had no cash to dispense.
Customers, who came into the premises, complained that scarcity of funds had always been the order of the day at that particular First Bank quick service point.
A trader, Mrs. Kudirat Abiodun, said: “If you want to withdraw, just hike a bike to Ikotun branch.
“I have never seen a branch that is unserious as this one.
“In a week, their machines can only dispense money twice.
“They never have money in their ATMs.
“I think there is a conspiracy here so that all these POS operators around can transact their own business,” Abiodun advised some customers who wanted to make cash withdrawals.