CBN Unveils New ATM Rules to End Cash Scarcity and Bank Queues
CBN Unveils New ATM Rules to End Cash Scarcity and Bank Queues. The Central Bank of Nigeria has announced a sweeping reform aimed at resolving long standing cash access challenges, as the CBN ATM policy introduces strict new standards for banks beginning in 2026. The directive, disclosed on January 26, 2026, under the leadership of CBN Governor Olayemi Cardoso, seeks to align the rapid growth of debit card issuance with adequate ATM infrastructure across the country.
For years, customers have endured empty machines and prolonged queues due to an imbalance between digital banking growth and physical cash dispensing capacity, a gap the regulator now intends to close.
At the core of the new framework is a mandatory deployment ratio that directly ties card issuance to ATM availability. Under the policy, banks must maintain at least one functional ATM for every 5,000 active payment cards issued. With Nigeria’s total bank accounts approaching 320 million, this requirement is expected to significantly expand the national ATM network from roughly 17,000 units to more than 64,000 machines by 2028, when full compliance becomes mandatory.
To prevent disruption within the financial system, the CBN has introduced a phased rollout plan. Banks are expected to meet 30 percent of their required ATM deployment by the end of 2026, increase compliance to 60 percent in 2027, and achieve full implementation by 2028. Institutions that fail to meet these benchmarks risk losing approval to issue new debit cards, a sanction that could directly affect customer growth and market competitiveness.
Stronger Operational and Security Standards
Beyond increasing the number of machines, the 2026 guidelines place strong emphasis on reliability, accessibility, and consumer protection. Banks are now required to process failed transactions on their own ATMs instantly, while interbank transaction failures must be resolved within 48 hours without requiring customers to lodge complaints. The policy also prohibits the use of cash retraction features, ensuring customers do not lose funds during network or power interruptions.
Inclusion is another major focus. At least 2 percent of all ATMs deployed must be equipped with voice assistance and tactile symbols to support visually impaired users. Additionally, the CBN has imposed strict uptime requirements, limiting technical downtime to a maximum of 72 consecutive hours. Banks must also monitor cash levels digitally to prevent machines from running dry without warning.
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The new ATM policy is expected to reduce dependence on Point of Sale agents, whose services have become costly for many Nigerians due to high withdrawal charges and security concerns. By strengthening ATM availability, the CBN aims to restore free and secure access to cash, particularly for small businesses that still rely heavily on physical currency for daily transactions.
Governor Cardoso has emphasized that the objective is not to phase out cash but to maintain a balanced payment ecosystem that supports economic growth. As implementation begins in earnest later in 2026, the banking industry is set for a major infrastructure expansion that could redefine everyday access to money and rebuild public confidence in Nigeria’s financial system.