The Central Bank of Nigeria (CBN) has announced plans to introduce a regulatory policy aimed at sanitising debit card issuance and ATM operations across Nigerian banks to address persistent cash access challenges, Governor Yemi Cardoso revealed through his Special Adviser, Fatai Karim, at the 2026 Committee of Heads of Bank Operations Conference on Friday. The apex bank stated that the policy will ensure the number of cards issued by banks aligns with their deployed ATM infrastructure, helping to reduce congestion, downtime, and uneven cash availability nationwide. The CBN highlighted that recurring ATM failures and cash shortages continue to undermine public confidence in electronic payment channels, despite rapid growth in digital transactions across the sector, adding, “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.” Karim further noted that 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, a move expected to enhance ATM reliability, improve cash distribution, and restore confidence in Nigeria’s electronic payment system, benefiting both banks and customers nationwide.
