The Central Bank of Nigeria (CBN) has introduced cash collection centres called Bank Neutral Cash Hubs (BNCH), to be established by registered processing companies or deposit money banks (DMBs) based on business needs.
The apex bank said this in the guidelines for the registration and operation of BNCH in Nigeria, released on Monday and signed by Ahmed.B.Umar, director, currency operations department.
The CBN said BNCHs would provide a platform for customers to make cash deposits and receive value irrespective of the bank with which their account is domiciled.
They will be located in areas with high volumes of commercial activities and cash transactions.
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