The Central Bank of Nigeria (CBN) has announced plans to introduce new regulations on debit card issuance and Automated Teller Machine (ATM) operations in a move to reduce congestion and improve cash access across the country.
The proposed policy is designed to address persistent challenges in the banking system, including long queues at ATMs, frequent machine breakdowns, and uneven cash availability, which have continued to frustrate customers despite the growth of electronic payment channels.
Under the new framework, banks will be required to align the number of debit cards they issue with the capacity and distribution of their ATM networks. The apex bank believes that unchecked card issuance, without corresponding investment in ATM infrastructure and cash logistics, has contributed significantly to the pressure on existing machines.
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Speaking at a recent banking operations conference, CBN officials said the initiative is part of broader efforts to strengthen cash management, improve service delivery, and restore public confidence in physical banking channels.
The policy will also encourage banks to expand ATM deployment, improve machine maintenance, and ensure more consistent cash loading, particularly in high-traffic urban centres and underserved rural areas.
While digital payments continue to grow, the CBN noted that cash remains essential for millions of Nigerians, especially in informal markets and remote communities where electronic channels are still limited.
The regulator said consultations with industry stakeholders are ongoing, and the final guidelines will be released in the coming months, after which banks will be given a transition period to comply.
The CBN expressed confidence that the new rules would lead to reduced downtime, shorter queues, and more reliable cash access nationwide.
