Nigeria’s cash supply is showing remarkable signs of stability following sweeping reforms by the Central Bank of Nigeria (CBN), easing the seasonal pressures that traditionally disrupt commerce during festive periods. The improvements come after a comprehensive review led by CBN Governor Olayemi Cardoso, who chaired a special committee tasked with addressing structural challenges in the nation’s cash management system. For millions of Nigerians, the holiday season this year was notably smoother, with reliable access to cash through banks and ATMs.
The CBN’s renewed focus on operational discipline and holistic cash management has been central to this success. Measures included recalibrating cash-printing models, strengthening ATM-to-card ratios, and enforcing strict guidelines on branch closures and ATM operations. The result has been a tangible improvement for customers, who previously faced long queues, limited ATM access, and difficulties conducting everyday transactions during peak demand periods.
Across major cities including Lagos, Abuja, Kano, and Calabar, traders and bank customers reported a more predictable banking experience. Many small business owners praised the reforms for allowing smoother transactions and better planning during the festive season. Personal accounts, such as that of Mrs. Nkiru Onyema, highlighted the reduced wait times at banks, reflecting a shift from previous years of frustration and uncertainty over cash availability.
Beyond cash management, the CBN continues to advance Nigeria’s digital finance ecosystem, which now ranks among Africa’s most advanced. The apex bank has expanded fintech regulatory sandboxes, encouraged contactless payments, and implemented stricter anti-fraud controls. Initiatives such as ensuring uninterrupted use of foreign-issued cards further support consumer convenience and financial inclusion, particularly for tourists and Nigerians returning from abroad.
To reinforce these gains, the CBN has sanctioned banks failing to comply with cash distribution policies, demonstrating its commitment to sustained financial stability. Governor Cardoso emphasized that these efforts are not just about seasonal convenience but fostering long-term public trust and confidence in Nigeria’s financial system. With consistent cash availability and an evolving digital payments landscape, Nigerians are now experiencing more reliable, accessible, and modern banking services nationwide.
source: punch