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ANAN wants CBN, banks to increase maximum cash lodgment in ATMs

 

By Daniel Ayantoye

The Association of National Accountants of Nigeria (ANAN) has called on commercial banks as well as the Central Bank of Nigeria to amend its policy on the maximum amount lodged into Automated Teller Machine (ATM).
This, it said would reduce the challenges customers face while trying to carry out cash withdrawal.
Speaking with Pilot Business in a telephone chat yesterday, the state Chairman of ANAN, Mr. Ishola Abiodun Moses noted that the population in a community should be one of the determining factors for cash lodgment.
He also stressed need for banks to increase cash put into ATMs at weekends and during festive periods when customers do not have access to the banking hall.
“I think the bank has a policy and there is a certain amount of money lodged into ATM per time for people to withdraw and I also think there is a policy by the CBN on the cash limit.
“What is then required is for the banks to increase the amount they put into the machine, most especially at weekends and festival periods in order to ease the stress customers go through trying to withdraw their money.
“Another major factor that should be considered is the population in a certain community, for example the amount that will be lodged in an ATM located in Ilorin should be different from Offa and Ibadan because the population differs, ” he said.
Meanwhile, bank customers in Ilorin, Kwara State capital, have decried the difficulty encountered while trying to withdraw cash during the Sallah celebration.
Some of them who spoke to this medium in separate interviews complained that ATMs of most commercial banks within the state capital malfunction during festive period and weekends.
A  First Bank customer, who simply identified himself as Dayo, said he wasted many hours trying to withdraw money during the festive period.
“I was here (bank) on Friday, which is Sallah day, the experience was bad. I had to give a guy, who was ahead of me my ATM to help withdraw, who in return demanded the sum of N200, “he recounted.
Another GTBank customer, Yusuf Taiwo, lamented the challenge he faced over the weekend while trying to withdraw money.
“Many people were left stranded at they could not withdraw cash at some ATM points. It was tug of war here before people could get cash from the ATMs,” he said.

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