An ATM machine. Photo NEXT

CBN extends ATM deployment date

By Oluwaseyi Bangudu

July 2, 2009 03:52PM

The Central Bank of Nigeria has extended by another two months, the directive for commercial banks to evacuate all automated teller machines out of all public places.

This follows its observation that banks in the country are making little efforts to comply with its directive on the operation of Automated Teller Machines in public places.

The finance regulatory body has, therefore, decided to place an advert in some national newspapers, outlining the procedures for registering and establishing teller machines consortia, that would be licensed to locate the teller machines in designated public places.

According to a circular issued on June 26, four days to the expiration of the initial deadline of June 30, the Central Bank of Nigeria decided to extend the deadline for the removal of the machines in public places by two months to August 31, 2009.

The circular, signed by A.S.F. Atoloye, Acting Director, Banking Operations, states that the directive to establish two Automated Teller Machine consortia to manage offsite machines was for the purpose of effective management and operations of the machines.

The Central Bank of Nigeria ordered banks to redeploy to their premises all machines installed in public places on or before June 30, 2009. The regulator gave the order in a circular made available to the press on the April 7, 2009.

According to James Olekah, Director, Banking Operations, the Central Bank of Nigeria had observed with concern that banks were competing with the operations of the ATM Consortium in the deployment of the machines in public places.

Back

Dear Reader.
While we value your feedback we may block inappropriate comment. Please feel free to respond to new comments. Note also that 234NEXT bears no responsibility for what readers post and is not liable for any form of impersonation.

Reader Comments (3)

Posted by Dr. O. Idemudia on Jul 07 2009

ATM HYGIENE IS THE MOST PARAMOUNT While requesting consortia to manage ATMs' deployment, the CBN will have to see that the platforms for altrenative deployment is fraud proof and safe giving reports of unauthorized withdrawals. While this is noted, i am writing to draw the attention of CBN to the very dirty and unhygeinic state of ATMs. the banks seems to be too concerned with the provision of cash while negelcting the security and care of the ATM users. In countries where the environment is cleaner, ATM hygiene is taken very seriously unlike what is seen here. the craze to deploy ATMs has taken promienece over ATM users' hygiene. Banks and the ATM consortia should be compelled by CBN to ensure that ATMs do not pose any health hazard to users by ensuring that appropriate care is provided to the ATMs and their surrounding. Appropriate and registered products should be used regularly. Indeed in some weekends and public holidays, some ATMs are turn-offs. pathogens causing gastro-enteritis and some other health conditions could be easily transmitted when they contaminate the buttons of ATMs. it takes public responsibility to provide this direction for ATM use.

Posted by beredugu on Jul 25 2009

Dr Idemudia are you drunk or what? HYGIENE? anyway i think this law or decree is useless, look at other countries and how they operate. Why do this? well 9ja politics wins always...

Posted by docjuli on Jul 28 2009

Dr Idemudia is 100% correct. HYGIENE? Yes. Beredugu, read Dr Idemudia's comment again.