The Central Bank of Nigeria (CBN) has issued new guidelines on the operations of Automated Teller Machines, directing banks including Access Bank, Zenith Bank, United Bank for Africa (UBA), and other financial institutions to overhaul how they manage ATM deployments and handle failed transactions. The directive was contained in a circular dated March 13, 2026, signed by the Director of the Payments System Policy Department, Musa I. Jimoh, and addressed to banks, other financial institutions, and payment service providers.
At the heart of the new rules is a firm stance on failed transactions. Failed on-us ATM transactions, (those conducted on a customer’s own bank ATM) must be reversed instantly, while manual reversals resulting from technical issues must be completed within 24 hours. For not-on-us transactions involving another bank’s ATM, refunds must be processed within 48 hours.
Operators are also required to adopt automated mechanisms that trigger refunds immediately without waiting for complaints from customers or issuing banks. Customers must be able to report dispense errors through digital channels such as web or mobile applications without the need to visit bank branches. Beyond transaction reversals, the CBN is pushing for a dramatic expansion of ATM infrastructure. The new rules set ambitious targets for ATM deployment, requiring at least one machine per 5,000 active cards, with banks expected to achieve 30% compliance by 2026, 60% by 2027, and full compliance by 2028.
To enhance security and accessibility, ATMs must be fitted with anti-skimming devices, CCTV surveillance and tactile features for visually impaired users. The CBN added that it will conduct periodic audits and on-site inspections to monitor compliance, with institutions required to submit monthly returns on new ATM deployments to the Payments System Supervision Department.
The apex bank said the updated framework is designed to strengthen ATM deployment standards, improve customer access to cash services, and align Nigeria’s payment infrastructure with global regulatory practices.
