CBN releases guidelines for operation of the Bank Neutral Cash Hubs (BNCH).
Written by News Room on March 16, 2022
The Central Bank of Nigeria (CBN) has released guidelines for the operation of the Bank Neutral Cash Hubs (BNCH), in a bid to ease huge cash management and deepen financial inclusion.
According to a statement on its website, the CBN said that the release of the guidelines is in furtherance of its mandate to promote a sound financial system in Nigeria.
It said it is part of its collaborative efforts with the Banker’s Committee to reduce cost and improve operational efficiency in the country’s cash management.
It added that the hubs would provide platforms for customers to make cash deposits and receive value irrespective of the bank with which their accounts are domiciled.
Amen J Kantiyok