CBN Governor, Olayemi Cardoso, through his Special Adviser, Fatai Karim, made this announcement at an event at the weekend.
He said the move was part of efforts to tackle persistent cash access challenges and restore public confidence in electronic payment systems.
According to the apex bank, the proposed policy will align the number of debit cards issued by banks with their deployed ATM infrastructure, a measure expected to reduce congestion, frequent downtime, and uneven cash availability across the country.
He said the recurring ATM failures and cash shortages continue to weaken trust in digital payment channels, despite the rapid growth of electronic transactions within the banking system.
“Very soon, the Central Bank will be coming up with another policy to sanitise and improve the situation, particularly around how many cards banks issue relative to the number of ATMs they support,” he said
Hmmm, let the new policy be more favorable to customers this time
ReplyDeleteNa beg i dey beg oo🙄
we keep moving, in as much as the said policy will bring about development.. we key into it
ReplyDeleteNo mention of improved security on these debit cards, the yahoo folks are always ahead. I recently used my card at a fuel station 2 hours later money started going off my account.
ReplyDeleteMore effort should be put in place to make it difficult for criminal gangs to steal from our cards.