Banks to provide one ATM for every 5,000 payment cards issued, amidst complains – CBN 

By Onu Okorie 

Following the sustained public complaints over ATM shortages and poor service quality, the central Bank of Nigeria CBN has given a new directive requiring all card-issuing financial institutions to deploy at least one ATM for every 5,000 payment cards issued.

This was disclosed in the information obtained from the apex bank’s website yesterday.

The new minimum standards for the deployment, operation, maintenance, and security of Automated Teller Machines ATMs has been described as part of the CBN’s broader effort to strengthen Nigeria’s payments infrastructure while protecting financial consumers in an increasingly digital economy.

Signaling a major regulatory push to improve cash access and service delivery across the country, the regulation applies to deposit money banks and other licensed card issuers within Nigeria’s financial system.

The apex bank said the move is aimed at tackling chronic challenges associated with ATM services, including limited machine availability, frequent breakdowns, long queues, and security vulnerabilities—issues that have persisted despite Nigeria’s growing cashless and digital payments drive.

Beyond setting numerical deployment benchmarks, the new standards also impose stricter obligations on banks to ensure consistent uptime, prompt maintenance, adequate cash loading, and enhanced security for ATM locations. 

The CBN warned that compliance with the new standards will be closely monitored, adding that appropriate regulatory sanctions may be applied to institutions that fail to meet the requirements.

Financial institutions are expected to prioritise customer convenience while strengthening safeguards against fraud, vandalism, and other operational risks.