The Central Bank of Nigeria has announced plans to introduce a new regulatory policy aimed at sanitising debit card issuance and ATM operations across Nigerian banks, in a bid to address persistent cash access challenges. The announcement was made by CBN Governor Yemi Cardoso through his Special Adviser, Fatai Karim, at the 2026 Committee of Heads of Bank Operations Conference on Friday. According to the apex bank, the policy will ensure that the number of cards issued by banks corresponds with their deployed ATM infrastructure, helping to reduce congestion, downtime, and uneven cash availability nationwide. When cash access fails, whether due to prolonged ATM outages or uneven distribution, the credibility of the entire payment system is weakened,” the bank said. The move is expected to enhance ATM reliability, improve cash distribution, and restore confidence in Nigeria’s electronic payment system, benefiting both banks and customers nationwide.

Source: Punch January 23, 2026 19:13 UTC