The Central Bank of Nigeria has directed banks to ensure to resolve all Automated Teller Machine (ATM) cardholders’ complaints within a maximum of 72 hours from the date of receipt the complaints or face sanctions. This is contained in a new set of rules to guide transactions, going forward. Where records are falsified by any party, the CBN warns that adequate sanctions shall apply.

In an exposure draft on the standards and guidelines on electronic channels operations in Nigeria, signed Dipo Fatokun, its Director Banking and Payments System Department, the CBN also directed banks or independent organizations that deploy ATM for the use of the public to ensure that the ATM vault replenishment must be carried out as often as possible to avoid cash-out.
They are also to ensure that ATMs are not stocked with unfit notes and that cash is available in the machines at all time.

The CBN also warned that the ATM downtime (due to technical fault) must not be more than seventy-two (72) hours consecutively. It added however, that where this is not practicable, customers shall be duly informed by the deployer.

They are also to ensure that the help desk contacts are adequately displayed at the ATM terminals. It warned that at the minimum, a telephone line should be dedicated for fault reporting and such telephone line shall be functional and manned at all times that the ATM is operational.