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# CBN Fines Nine Nigerian Banks a Combined ₦1.35 Billion for Festive-Season ATM Cash Failures
- URL: https://www.theglobalbanker.com/cbn-fines-nine-nigerian-banks-1-35-billion-festive-season-atm-cash-failures/
- Published: 2025-01-15T13:48:00.000Z
- Updated: 2026-11-08T12:00:12.000Z
- Description: Nigeria's central bank fined nine deposit money banks ₦150 million each — a total of ₦1.35 billion — for failing to stock ATMs with Naira during the Christmas and New Year period.
- Author: TGB Editorial Team
- Tags: Regulations, Africa, #archive

The Central Bank of Nigeria announced on 14 January 2025 that it had imposed fines of ₦150 million on each of nine Deposit Money Banks for failing to ensure adequate Naira cash availability at their automated teller machines during the Christmas and New Year holiday period. The aggregate penalty of ₦1.35 billion — equivalent to roughly $870,000 — follows spot checks conducted by CBN supervisors on bank branches across the country during the festive season.

The CBN had issued cash distribution directives ahead of the holiday period, requiring banks to maintain sufficient Naira note supplies at ATMs to meet elevated consumer demand during the seasonal peak. Inspectors found that the nine sanctioned institutions had failed to comply with those instructions.

#### BANKS NAMED

The CBN named the nine banks in its statement: Fidelity Bank, First Bank, Keystone Bank, Union Bank, Globus Bank, Providus Bank, Zenith Bank, United Bank for Africa and Sterling Bank.