The Central Bank of Nigeria (CBN) has directed banks and financial institutions to significantly expand the number of Automated Teller Machines (ATMs) across Nigeria. Introducing a new rule that requires at least one ATM for every 7,500 payment cards issued by 2028.
The directive announced in the apex bank’s updated Guidelines on the Operations of Automated Teller Machines in Nigeria. Aimed at improving access to cash withdrawal services and reducing the long queues often seen at ATM locations.
New ATM Deployment Requirement
According to the guideline, all card issuers — including banks and payment service providers — must deploy sufficient ATM infrastructure to meet the new ratio. This means that financial institutions issuing millions of debit and credit cards. Will be required to increase the number of machines they operate nationwide.
The circular outlining the directive dated March 13, 2026, and signed by Musa I. Jimoh, Director of the Payments System Policy Department at the Central Bank.
Improving Access to Cash
The CBN said the move is part of broader efforts to strengthen Nigeria’s payment system and improve financial access for citizens.
Despite the rapid growth of digital payments and mobile banking in recent years. Many Nigerians still rely heavily on cash transactions, particularly in rural and semi-urban communities. However, the limited number of ATMs in many areas has often led to congestion, service disruptions. And additional charges from third-party withdrawal points.
What This Means for Nigerians
If fully implemented, the new requirement expected to increase the availability of ATMs across the country. Making it easier for customers to withdraw cash without long wait times or traveling long distances.
Industry experts say the policy could also reduce dependence on POS agents for cash withdrawals, which often attract extra fees for users.
The directive forms part of the Central Bank’s ongoing reforms aimed at modernising Nigeria’s financial infrastructure. While ensuring that access to essential banking services remains widely available.
