New CBN ATM Operations Guidelines: 10 Key Rules You Must Know
The Central Bank of Nigeria (CBN) is implementing significant changes to the way Automated Teller Machines (ATMs) operate within the Nigerian banking sector. These revised guidelines, outlined in the “Draft Guidelines on the Operations of Automated Teller Machines in Nigeria,” aim to enhance customer safety, improve service standards, and align with global best practices. This move, a revised version of the 2020 “Guidelines for the Operations of Electronic Payment Channels in Nigeria,” is part of the CBN’s ongoing efforts to regulate the financial sector, ensuring transparency, accountability, and responsible operations within the Nigerian tech and banking landscape.
Key Changes in ATM Operations
These new regulations introduce minimum standards for various aspects of ATM management. They cover ATM deployment, the daily operations, and regular maintenance procedures. The goal is to ensure that all banks adhere to consistent standards that protect customer transactions and the integrity of the banking system. Further details on specific regulations and the impact on daily ATM usage are expected. This initiative echoes recent revisions to Point-of-Sale (PoS) banking agent operations, indicating a broader focus on standardizing all aspects of the electronic payment ecosystem within Nigeria.
The CBN, under Governor Olayemi Cardoso, is leading these changes, demonstrating a commitment to modernization and security within the Nigerian financial sector.
Keywords
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