Wednesday, November 9, 2011


By Emeka Aginam

In order to ensure smooth implementation of new cashless society policy beginning early next year, the Central Bank of Nigeria, (CBN) has issued a new guidelines for the deployment of off-site Automated Teller Machines, (ATMs) across the country, saying that strict sanctions would be applied in the case of non- compliance.

Banks and Independent ATM Deployers (IADs), according to a circular signed by by the acting Director, Banking and Payments Systems Department of the apex bank, G.I . Emokpae last week, would be allowed to acquire and deploy off-site ATMs.

He said that given the critical role of ATM deployment and availability in ensuring success of the cash policy, it is important for all parties to perform their required roles to the expected standards. “A comprehensive review of the ATM guidelines is in process, and shall be communicated in due course” he said in the circular.

Each party, according to the circular issued to all Deposit Money Banks, Independent ATM Deployers , Switches, among others would be free to brand the off-site ATMs acquired, and process their transactions accordingly. Each party, the apex said in the circular shall ensure provision of cash for their off-sites ATMs.


“Banks shall have the option to engage IADs to deploy, maintain and support off-site ATMs. In such case a case, the banks and the IADs shall agree on the service scope and the charges/fess” he said.

Part of the guidelines, according to him is that all transaction fees shall remain pegged at a maximum of N100 per transaction for all ATMs, adding all ATMs shall clearly display the transaction fees for card holders to accept before the transaction is communicated.


Regarding quality of service of the ATMs, the following guidelines have also been issued:

  • All ATMs (off-site and on-site) shall have a minimum up time of 95% going forward.
  • All ATMs shall have cameras and other security measures deployed to deter and prevent fraud.
  • All ATMS shall present the same set of services (menu option) to all the cards the accpet.
According to him, this will be monitored routinely, with strict sanctions applied in the case of non compliance

“The provisions of this circular shall take precedence , in event of any conflict between it and previous guidelines regarding ATM operations/ deployment” Emokpae explained in the circular.

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