Regulatory Alerts2009-06-30 | BOD/DIR/GEN/SMP/03/025Deployment of DMBs' Offsite ATMs and Establishment of ATM Consortium
The Central Bank of Nigeria has noted a lack of effort by Deposit Money Banks in complying with its directive to establish two ATM consortia for offsite ATMs. To address this, the bank will advertise procedures for registering and establishing these consortia in national newspapers. It has also extended the deadline for removing banks' ATMs from public places by two months, from June 30th to August 31st.
CENTRAL BANK OF NIGERIA Central Business District P.M.B. 0187 Garki, Abuja 09-61638445 09-61638455 (Fax) BOD/DIR/GEN/SMP/03/025 June 26, 2009 To: All Deposit Money Banks RE: DEPLOYMENT OF DEPOSIT MONEY BANKS' OFFSITE ATMS AND ESTABLISHMENT OF ATM CONSORTIUM Please refer to the circular on the deployment of ATMs referenced BOD/DIR/CIR/GEN/01/48 and dated April 7, 2009.
The Central Bank of Nigeria has observed that there is little effort by deposit money banks to comply with the directive to establish two ATM consortia for the purpose of effective management and operations of offsite ATMs.
Consequently, the Bank has decided to place an advertisement in some national newspapers outlining the procedure for registering and establishing ATM consortium. The deposit money banks will be notified of the outcome of this exercise in due course. In the meantime, we hereby extend the deadline for the removal of deposit money banks' ATMs in public places by two months from the earlier date, June 30, 2009. In order words, the new deadline is now 31st August, 2009.
A.S.F. Atoloye Ag. Director, Banking Operations Department Central Bank of Nigeria