Lagos - The Central Bank of Nigeria (CBN) says it will facilitate the introduction of Automated Teller Machines (ATMs) that can dispense coins to encourage Nigerians imbibe the culture of spending them.
Mr Chidi Umeano, Head of Shared Services at CBN, on Monday in Lagos said that this plan was in tune with the currency restructuring exercise.
He said that the coins dispensing ATMs would hasten the acceptance of coins by Nigerians and change misconception about their use.
“To achieve this plan, what is needed is to facilitate the inclusion of a process called “add-on” to the ATMs.
“Good enough, the existing ATMs have the “add-on“ feature that will easily make them adapt to coins dispensing, “ he said.
Umeano said that the apex bank would ensure that newly deployed ATMs had the “add-on“ feature among others.
“It is very possible to achieve Automated Teller Machines that will dispense coins.
“This “add-on” feature can be activated on the ATMs at any time by the CBN and this is not new because it is being practiced in advanced countries.
“This proposal is in consonance with our cash-less policy and also in line with the CBN’s effort to encourage Nigerians to appreciate coins, “he said.

ITbomb: Lagos - The Central Bank of Nigeria (CBN) says it will facilitate the introduction of Automated Teller Machines (ATMs) that can dispense coins to encourage Nigerians imbibe the culture of spending them.
Mr Chidi Umeano, Head of Shared Services at CBN, on Monday in Lagos said that this plan was in tune with the currency restructuring exercise.
He said that the coins dispensing ATMs would hasten the acceptance of coins by Nigerians and change misconception about their use.
“To achieve this plan, what is needed is to facilitate the inclusion of a process called “add-on” to the ATMs.
“Good enough, the existing ATMs have the “add-on“ feature that will easily make them adapt to coins dispensing, “ he said.
Umeano said that the apex bank would ensure that newly deployed ATMs had the “add-on“ feature among others.
“It is very possible to achieve Automated Teller Machines that will dispense coins.
“This “add-on” feature can be activated on the ATMs at any time by the CBN and this is not new because it is being practiced in advanced countries.
“This proposal is in consonance with our cash-less policy and also in line with the CBN’s effort to encourage Nigerians to appreciate coins, “he said.






http://www.vanguardngr.com/2012/09/cbn-plans-coins-dispensing-atms/

4reigningqueen: why do this people like treating us as if we do not know anything,imagine telling us that they want us to learn how to use coins.abeg NA BY FORCE!!!

afam4eva: Is this really necessary?

Dee60: Attention Deficit Disorder can make a person to continually release novel things (even when they are not noble) so that they can generate a lot of criticisms and thereby get all the attention they crave for. Is CBN not suffering from this? For how long shall Nigerians bear with these nonsensical things?

Exactly how much will it cost banks to acquire the newest craze? Are the coins ATMs going to be in addition to the current ones or would they have to start replacing their ATMs again?

There are more questions. May be for now we should assume they didn't mean it?

Godsave9ja: Big Sorry to our leaders, why because they don't have the brain to rule 9ja. If we have ATM that dispenses coins, is it an achievement? what can we use the coin to buy.
Make Naira solid, say N50 = $1 then we will be in business.

mkmyers45:

Yes, it is by force...Coin culture is highly beneficial to the strength of a currency

mkmyers45:

and how do you expect that to be possible if necessary steps are not put in place?