The Central bank of Nigeria has introduced a cash collection centre to enable it reduce cost and improve operational efficiency in the country’s cash management.
The CBN disclosed in a guideline that the new cash centre which would be known as ‘Bank Neutral Cash Hubs’, will serve as central cash deposits points.
CBN said the cash centres will be located in areas with high volumes of commercial activities and cash transactions.
The apex bank added that the centres will provide a platform for customers to make cash deposits and receive value irrespective of the bank with which their account is domiciled.