CBN Mandates One ATM per 7,500 Payment Cards by 2028
The Central Bank of Nigeria (CBN) has issued a new directive requiring banks and other payment card issuers to deploy more Automated Teller Machines (ATMs) across the country.
Under the guideline, every card issuer must ensure one ATM is available for every 7,500 payment cards issued by 2028. The CBN said the regulation is aimed at strengthening Nigeria’s ATM infrastructure, improving cash access nationwide, and aligning the country’s payment ecosystem with global standards.
Compliance will be phased, with 30 percent of the requirement expected in 2026, 60 percent in 2027, and full compliance by 2028.
The new Guidelines on the Operations of Automated Teller Machines in Nigeria also include requirements for ATM performance, security, and customer protection. Banks and independent ATM deployers are expected to ensure machines are interoperable, secure against fraud, and located in safe and convenient areas.
To protect customers, the CBN mandated that failed ATM transactions must be reversed within 24 to 48 hours, with automated systems in place to initiate refunds without customer complaints.
Banks are also required to submit monthly operational data to the CBN, and penalties will be imposed for non‑compliance. The move addresses long-standing challenges in Nigeria’s ATM network, including uneven distribution, frequent downtime, and long queues, particularly in rural areas. Experts say the regulation is part of a broader effort to enhance financial inclusion and reduce reliance on cash.
The CBN had earlier exposed draft guidelines in October 2025, proposing a stricter target of one ATM per 5,000 payment cards.
Following industry feedback, the final 2026 directive revised the ratio to one per 7,500 cards, allowing for more practical deployment. This initiative is expected to significantly improve access to cash and digital financial services, contributing to the modernization of Nigeria’s banking sector.
