Bank workers across the country have expressed frustration with the Central Bank of Nigeria (CBN) over the persistent cash shortage affecting operations nationwide. The workers accused the CBN of failing to ensure adequate cash distribution to commercial banks, leaving them unable to meet customer demands. They warned that the situation is creating tension and increasing the risk of confrontations with disgruntled customers.
According to a representative of the bank workers’ union, many branches are operating under severe pressure as they struggle to manage the limited cash supply. The union alleged that the CBN has not been transparent in its allocation process, leading to inequities in cash distribution. The workers claimed that this has made it difficult for banks to fulfill even basic transactions, such as withdrawals and deposits.
The workers further criticized the CBN’s communication strategy, stating that it has failed to provide clear information to banks and the public about the cash supply challenges. This, they said, has resulted in widespread confusion and frustration among customers. Many bank staff reported facing verbal and physical abuse from irate customers due to the inability to access their money.
In response to the worsening crisis, the workers urged the CBN to urgently address the cash supply issue. They called for better coordination between the apex bank and commercial banks to ensure equitable distribution of available funds. Additionally, they appealed to the government to support policies that would alleviate the financial hardship experienced by citizens.
The workers also emphasized the need for increased security at bank branches to protect staff from potential violence. They warned that if the cash shortage continues unchecked, it could erode public trust in the financial system and exacerbate economic instability. Bank workers remain committed to serving customers but insist that the CBN must take decisive action to resolve the crisis.
