The Central Bank of Nigeria (CBN) has provided designated contacts for bank customers to report difficulties experienced with withdrawing cash over the counter or at automated teller machines (ATMs).

On November 29, Olayemi Cardoso, governor of CBN urged bank customers to report any withdrawal challenges via designated numbers.

Prior to the directive, the financial regulator had asked banks to prioritise cash disbursement through ATMs or face penalties.

But in a circular on Tuesday, jointly signed by Solaja Olayemi, its acting director of currency operations, and Isa-Olatinwo Aisha, its acting director of branch operations, CBN provided designated lines to help address customers’ challenges.

“Please refer to the various engagements and interventions from the Central Bank of Nigeria (CBN) on the above subject aimed at addressing efficient and optimal currency circulation in the economy,” CBN said.

“As part of these ongoing efforts, we would like to draw your attention to the following directives and Guidelines:

“Deposit Money Banks (DMBs): DMBs are directed to ensure efficient cash disbursement to customers Over-the-Counter (OTC) and through ATMs as the CBN will intensify its oversight roles to enforce this directive and ensure compliance.

“General Public Reporting: Members of the public who are unable to obtain cash Over-the-Counter or through ATMs at DMBs, are encouraged to report these instances using the designated reporting channels and format provided below.

“This will assist CBN in addressing issues hindering the availability of cash and further improve currency circulation.”

HOW TO MAKE A REPORT

To make a report of a bank branch or ATM not dispensing cash, the CBN said affected customers are to provide the relevant details which include, “account name/name of the DMB/amount /time and date of Incident(s) amongst others via the following dedicated channels”.

“Phone Call: Designated phone number(s) of the CBN branch in the state where the incident(s) occurred,” the apex bank said.

“Email: or send an email of the incident to the designated email address for the state in which the incident(s) occurred.”

Below is the list of designated numbers and emails for customers to use:

Lagos State Governor, Babajide Sanwo-Olu, on Tuesday signed the Lagos State Electricity Bill 2024 into law, setting the stage for an independent power supply system aimed at providing reliable electricity to residents.

The signing ceremony, held at Lagos House, Alausa, Ikeja, was attended by key officials, including Deputy Governor Dr. Femi Hamzat, Chairman of the Lagos State House Committee on Energy and Mineral Resources Sabur Oluwa, Attorney General and Commissioner for Justice Pedro Lawal, Commissioner for Energy and Mineral Resources Biodun Ogunleye, and Commissioner for Information and Strategy Gbenga Omotoso.

Describing the law as a milestone, Sanwo-Olu emphasized its potential to transform electricity production and distribution in Lagos State.

The Lagos State Electricity Law 2024 aims to: Establish a technically sound, financially viable, and well-regulated Lagos Electricity Market.

Ensure access to affordable, reliable, and sustainable electricity for all residents.

Promote diverse energy sources, including renewable energy, and encourage energy efficiency.

Foster investment, competition, and innovation in the electricity sector.

Extend electricity access to underserved areas to support sustainable development.

Commissioner for Energy and Mineral Resources Biodun Ogunleye announced that the law’s implementation will begin within six months, pending final approval from the Federal Government.

The law creates several regulatory bodies to manage the electricity market:

Lagos State Electricity Regulatory Commission (LASERC): Ensures compliance and oversees licensing.

Lagos Independent System Operator (ISO): Responsible for maintaining system reliability and operational efficiency.

Lagos State Electrification Agency: Tasked with expanding electricity access to underserved communities.

Electrification Funds: Allocated for financing electrification projects and sustainable energy solutions in underserved areas.

Community Trust Fund: Requires power generating companies to allocate a percentage of their previous year’s operating expenditure to host community development.

Power Enforcement Unit: Charged with addressing electricity theft and infrastructure damage.

The Lagos State Electricity Law 2024 represents Governor Sanwo-Olu’s commitment to resolving longstanding energy challenges, laying the foundation for economic growth, industrial development, improved quality of life, and environmental sustainability.

The house of representatives has asked the Central Bank of Nigeria (CBN) to suspend the “planned” retirement of 1,000 staff.

The apex bank is said to be preparing to retire 1,000 officials and provide them with a severance package totaling over N50 billion.

During Tuesday’s plenary, the house resolved to set up an ad hoc committee to investigate the “process and legality” of the exercise to “ensure transparency, accountability, and proper utilisation of funds”.

The lower legislative chamber passed the resolution following the adoption of a motion of urgent public importance sponsored by Kama Nkemkama from Ebonyi state.

Nkemkama said the “sudden” planned retirement of the staff, including directors and senior management, “raises critical questions about the criteria for selection, transparency, and adherence to due process in line with public service guidelines and labour laws”.

“Such a significant decision has socio-economic implications for the affected individuals, their dependants, and the broader economy, potentially leading to increased unemployment and public dissatisfaction,” he said.

“The reported payoff scheme amounting to N50 billion may lack sufficient accountability and oversight mechanisms, posing risks of mismanagement and abuse of public funds in a sector vital to Nigeria’s financial stability.”

The motion was adopted when it was put to a voice vote by Tajudeen Abbas, speaker of the house.

Consequently, the house asked the ministry of labour and employment to protect the rights of the affected staff.

The committee, when set up, has four weeks to carry out the investigation and report back to the house.