Many Nigerians face challenges accessing cash due to long queues and distant ATMs.
Consequently, the Central Bank of Nigeria (CBN) has issued a directive to improve ATM access.
In March 2026, the CBN required banks to deploy one ATM per 7,500 cards.
Accordingly, banks must achieve 30% compliance in 2026, 60% in 2027, and full compliance by 2028.
Moreover, Musa I. Jimoh, CBN’s Payments System Director, explained that the move addresses growing digital payments.
ATM Deployment Rules
From now on, banks must process all ATM transactions locally and settle them in naira.
Additionally, the CBN prohibits closed or stand-alone ATM networks to ensure nationwide interoperability.
As a result, every Nigerian card will work at any ATM, providing customers with convenient access.
Furthermore, banks seeking independent ATM deployment must first obtain written approval from the CBN.
They must also provide proof of operational capacity and agreements with cash-supplying banks.
ATMs must operate in safe locations and remain functional, with downtime limited to 72 hours.
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Operators must maintain sufficient cash and replace unfit banknotes to prevent service disruptions.
Customer Protection Rules
ATMs must clearly display fees and help desk contacts, while issuing receipts on request.
Also, operators must install anti-skimming devices and surveillance cameras without recording keystrokes.
They must reverse failed transactions immediately or within 24-48 hours automatically.
Moreover, customers can report dispense errors digitally without visiting bank branches.
Looking Ahead
The CBN will conduct audits and inspections to ensure banks follow all rules.
Banks must submit monthly reports of new ATMs and locations by the fifth day.
By 2028, Nigerians will enjoy safer, reliable, and widely accessible ATMs across the country.
Ultimately, these reforms promise smoother transactions, stronger trust in banks, and improved financial access.
