CBN gives guidelines for operation of Bank Neutral Cash Hubs in Nigeria

The Central Bank of Nigeria has released guidelines for the registration and operation of the Bank Neutral Cash Hubs in in Nigeria

According to CBN, the guideline defines the registration requirements and operational procedures for the Bank Neutral Cash Hub which was conceptualized to offer bank-neutral cash withdrawal and deposit services to high volume/value cash transacting customers in a one-stop facility.

Provision of this service will serve to mitigate both risk and costs associated with currency management service provision.

The key objective of setting up Bank Neutral Cash Hubs (BNCH) is to reduce the risks and cost borne by banks, merchants and huge cash handlers in the course of cash management activities; deepen financial inclusion; and leverage on shared services to enhance cash management efficiency.

Permissible Activities

A BNCH may carry out the following:

  • Receipt of Naira denominated deposits on behalf of financial institutions from individuals and businesses with high volumes of cash.
  • High volume cash disbursement to members of the public on behalf of financial institutions.
  • Any other activities that may be permitted by the CBN.

Non Permissible Activities

A BNCH shall not:

  • Carry out investing or lending activities.
  • Receive, disburse, or engage in any transaction involving foreign currency.
  • Undertake any other transaction which is not prescribed by this guideline.
  • Sub-contract another entity to carry out its operations
  • Any other activities that may be prohibited by the CBN.


The following may apply for registration of a BNCH:

  • Deposit Money Banks (DMBs)
  • Cash Processing Companies (CPCs)

Further details about the registration requirement of Bank Neutral Cash Hub can be found on the website of the Central Bank of Nigeria.

Source: CBN gives guidelines for operation of Bank Neutral Cash Hubs in Nigeria – StocksWatch (

Notice: Function WP_List_Util::pluck was called incorrectly. Values for the input array must be either objects or arrays. Please see Debugging in WordPress for more information. (This message was added in version 6.2.0.) in /home/fundidqj/ on line 6031

Related Posts


Business & Economy


Welcome to the Elite Wealth Placement Fund – a bespoke investment vehicle designed exclusively for high-net-worth individuals seeking attractive and tailored placement opportunities. Our fund is managed by a team of seasoned financial experts with a proven track record of delivering superior returns, while prioritizing risk management and long-term wealth preservation. As an exclusive member, you will […]


Business & Economy

PZ Cussons Nigeria Plc reports N113bn revenue, boosts profit after tax by 114% in one year

The Audited Financial Statement of PZ Cussons for the year ended 31 May 2023 show significant growth in the Company’s bottom line figures with 114% growth in its profit after tax for the 12 months period. The Group reported revenue of N113.964 billion for the 12 months period, up by 14.53% from N99.503 reported the previous year.[…]