CBN Directs Banks to Expand ATM Network Nationwide for Financial Inclusion
The Central Bank of Nigeria (CBN) has instructed commercial banks to increase their ATM networks across the country, with a target of one ATM for every 5,000 payment cards issued. This move is part of a new policy to improve cash access services, enhance financial inclusion, and strengthen security in electronic payment channels.
Banks are required to deploy and maintain secure ATMs following new guidelines to ensure user protection and transaction confidentiality. The CBN also mandates ATM operators to enhance security measures, including automatic refunds for non-dispensing errors and the installation of anti-skimming devices.
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