In order to ensure smooth implementation of new cashless society policy beginning early next year, the Central Bank of Nigeria, (CBN) has issued a new guidelines for the deployment of off-site Automated Teller Machines, (ATMs) across the country, saying that strict sanctions would be applied in the case of non- compliance.

Banks and Independent ATM Deployers (IADs), according to a circular signed by by the acting Director, Banking and Payments Systems Department of the apex bank, G.I . Emokpae last week, would be allowed to acquire and deploy off-site ATMs.

He said that given the critical role of ATM deployment and availability in ensuring success of the cash policy, it is important for all parties to perform their required roles to the expected standards. “A comprehensive review of the ATM guidelines is in process, and shall be communicated in due course” he said in the circular.

Each party, according to the circular issued to all Deposit Money Banks, Independent ATM Deployers , Switches, among others would be free to brand the off-site ATMs acquired, and process their transactions accordingly. Each party, the apex said in the circular shall ensure provision of cash for their off-sites ATMs.

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