By Nchetachi Chukwuajah
The Central Bank of Nigeria (CBN), in a move aimed at addressing persistent cash access challenges, has announced plans to introduce a new regulatory policy aimed at sanitising debit card issuance and Automated Teller Machine (ATM) operations across Nigerian banks.
This was disclosed by the CBN Governor, Olayemi Cardoso, through his Special Adviser, Fatai Karim, at the 2026 Committee of Heads of Bank Operations Conference held on Friday, January 23.
The CBN governor said the policy will ensure that the number of cards issued by banks corresponds with their deployed ATM infrastructure, helping to reduce congestion, downtime, and uneven cash availability nationwide.
The apex bank noted that recurring ATM failures and cash shortages continue to undermine public confidence in electronic payment channels, even as digital transactions grow rapidly across the banking sector.
“Very soon, the Central Bank will be coming up with another policy to sanitise and improve the situation, particularly around how many cards banks issue relative to the number of ATMs they support.
“When cash access fails, whether due to prolonged ATM outages or uneven distribution, the credibility of the entire payment system is weakened,” the bank said.
According to Cardoso, the CBN is engaging industry stakeholders and expects the policy to take effect within months, possibly before the end of the second quarter of 2026.
The move is expected to enhance ATM reliability, improve cash distribution, and restore confidence in Nigeria’s electronic payment system, benefiting both banks and customers nationwide.
