Since October, Nigeria’s financial sector has been buzzing about the CBN’s draft ATM guidelines. The problem? Most of what you’ve heard is wrong.
At EFInA, we’ve done what we do best: broken down the guidelines in simple terms and separated fact from fiction to show what these rules really mean for you.
What’s Actually Happening
The CBN is updating ATM standards for the first time since 2020, introducing clear benchmarks: one ATM per 5,000 cards by 2028, phased over three years. This isn’t about flooding urban areas with more machines; it’s about strategic expansion into underserved communities where access gaps persist.
The guidelines also mandate accessibility features (audio prompts, tactile keypads, proper lighting), standardised reversal timelines (24–48 hours), and stronger security. Independent ATM Deployers get a clearer path to operate in rural areas through bank partnerships.
Why This Matters
Nigeria aims for 95% financial inclusion by 2028. When a farmer in rural Kebbi can reliably access cash, when visually impaired Nigerians can use ATMs independently, when failed transactions reverse predictably, trust grows, adoption increases, and inclusion becomes real.
These guidelines create the infrastructure for that future. But success depends on thoughtful implementation, technology-neutral compliance, and strong public awareness so Nigerians actually know their rights.
What We’re Watching
Will smaller banks and IADs get the support they need to comply? Can rural infrastructure keep pace? Will consumer education reach those who need it most?
These are the questions that matter. And at EFInA, we’ll keep translating policy into understanding, advocating for inclusive design, and ensuring the voices often left out of these conversations are heard.
Because financial inclusion isn’t just about infrastructure, it’s about ensuring that infrastructure serves everyone, everywhere.
Download the full explainer for detailed analysis.
