CBN Gives Banks June 30 Deadline to Remove ATMs From Hotels, Airports

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Banks have been given a June 30 deadline to remove their automatic teller machines (ATMs) from public places, particularly hotels and airport lobbies.

The Central Bank of Nigeria (CBN) ordered them to confine ATMs to their premises in a circular dated April 7, so as to curtail their competition for public space.

 

The circular, signed by CBN Director (Banking Operations), James Olekah, recalled that the ATM Consortium (ATMC) was mandated at the onset to soley deploy ATM in public places, while banks would limit it to their premises.

 

So, 'banks should henceforth restrict the deployment of ATMs to their premises, (and) are advised to redeploy all existing ATMs in public places to their premises on or before June 30, 2009,' Olekah directed.

 

He also disclosed plans to licence another ATM Consortium, in addition to the existing one, both of which would install ATMs in public places in line with best practice.

 

This, he added, gels with the policy on joint payment infrastructure to meet growing demand.

 

Olekah expressed satisfaction with the public acceptance and growth of ATMs as one of the channels of electronic payment.

He restated CBN's commitment to manage the machines in line with global standards.