The Central Bank of Nigeria (CBN) has announced plans to introduce a new regulatory framework aimed at improving debit card issuance and Automated Teller Machine (ATM) operations across the banking sector.
CBN Governor, Olayemi Cardoso, made this known through his Special Adviser, Fatai Karim, during an event held over the weekend.
According to the apex bank, the proposed framework is part of efforts to address persistent cash access challenges and restore public confidence in electronic payment systems nationwide.
Cardoso explained that the new policy will align the number of debit cards issued by banks with the number of ATMs they deploy. The move is expected to reduce congestion at ATM points, curb frequent machine downtime, and address uneven cash availability across the country.
He noted that recurring ATM failures and cash shortages have continued to erode public trust in digital payment channels, despite the rapid expansion of electronic transactions within Nigeria’s banking system.
“Very soon, the Central Bank will be coming up with another policy to sanitise and improve the situation, particularly around how many cards banks issue relative to the number of ATMs they support,” he said.
The CBN believes the proposed regulation will help strengthen the efficiency of cash distribution and improve the overall user experience for bank customers.
