One Week to Christmas, Nigerians Struggle with Cash Scarcity, Empty ATMs and High PoS Fees [Video]

Legit.ng journalist Victor Enengedi has over a decade’s experience covering Energy, MSMEs, Technology and the Stock Market.

With just a few weeks to Christmas, many Nigerians are expressing frustration over the scarcity of cash at banks and ATMs nationwide.

This situation is compounded by the declining quality of banking services in recent months, despite efforts by several banks to enhance their digital infrastructure to improve customer experience.

For many, especially in rural areas, cash remains the most reliable and accessible medium of exchange.Photo credit – CBN, APNSource: UGC

These mounting issues arise less than 15 days before Christmas, coinciding with the Central Bank of Nigeria’s (CBN) recent warning to penalize banks that have not upgraded their systems to meet the increasing demands of online banking customers.

The CBN also released dedicated phone numbers and email addresses for the public to report issues related to accessing cash through banks and ATMs.