The Central Bank of Nigeria has issued revised Guidelines on the Operations of Automated Teller Machines in Nigeria, replacing the ATM provisions in its 2020 electronic payment channels rules and all previous ATM regulations. The framework sets updated requirements on ATM deployment, technology standards, operations, security, accessibility and the resolution of failed transactions for deposit money banks, other financial institutions, independent ATM deployers and card-issuing institutions. Independent ATM deployers must obtain prior written Central Bank approval before commencing deployment, including demonstrating corporate information, technical and operational capacity, a cash-provisioning partnership with a bank and compliance with payment systems rules. The Guidelines require compliance with Payment Card Industry Data Security Standards, audit trail and logging capabilities, and specific accessibility provisions including tactile symbols on 2% of each acquirer’s deployed ATMs with locations publicised on the deployer’s website. They also mandate in-country acquiring and processing of ATM transactions and, where the issuer is a Nigerian bank or other Central Bank-licensed issuer, require domestic authorization, switching and settlement under a Nigerian-operated arrangement with Naira collateral deposited within Nigeria, while prohibiting stand-alone or closed ATM networks and requiring ATMs to accept all cards issued in Nigeria by authorised issuers. Card issuers must meet a minimum density of one ATM per 5,000 physical payment cards issued, with compliance staged at 30% in 2026, 60% in 2027 and 100% in 2028, and ATM deployment, redeployment and decommissioning subject to prior written approval. Operational rules include a maximum technical downtime of 72 consecutive hours, fee disclosure, receipt and monitoring requirements, disabling cash retraction, and refund timelines of instant reversal for failed on-us transactions (or within 24 hours for manual reversal where needed) and up to 48 hours for failed not-on-us transactions. ATM operators must also file monthly returns by the 5th of the following month and are subject to periodic Central Bank audits and onsite checks, with penalties for non-compliance.
Central Bank of Nigeria2025-10-01
Central Bank of Nigeria issues new ATM rules requiring domestic processing and 1 ATM per 5,000 cards by 2028
The Central Bank of Nigeria has issued revised Guidelines on ATM Operations, updating requirements for deployment, technology standards, security, and transaction resolution. Key mandates include prior approval for independent deployers, compliance with Payment Card Industry Data Security Standards, and accessibility provisions. Card issuers must meet minimum ATM density, adhere to operational rules including downtime limits and refund timelines, with penalties for non-compliance.