The Central Bank of Nigeria (CBN) on Thursday frowned at alleged cases of collusion between some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operatorsaffecting the availability of cash and disrupting the seamless circulation of the Naira.

“The CBN frowns at such inappropriate actions by certain individuals and is investigating thereported cases capable of undermining the smooth running of the economy.

“The CBN has, therefore, warned banks and PoS operators to desist from such activities as relevant sanctions shall be meted out to those found wanting,” the apex bank said in a statement signed by Sidi-Ali, Hakama (Mrs.), Ag. Director, Corporate Communications.

The Bank encouraged members of the public to use alternative payment channels as well as report any case of unauthorized activities, such as capping and hoarding, by banks or PoS agents to the CBN branch in their locations or via the link:https://forms.office.com/r/frZJ0f2hFQto address complaints and inquiries on the subject.