CBN says the new move is in line with the cashless policy

Next time you insert your card into an ATM it may spit out coins! Brace yourself!

The CBN will introduce an Automated Teller Machines (ATMs) that can give out coins to boost Nigerians to learn the culture of spending it.

This strategy was in line with the currency reformation implementation and the ATM for coins will accelerate the approval of coins by Nigerians and transform our mindset about its usage says Head of Shared Services at CBN, Mr Chidi Umeano.
“To accomplish this strategy, what is required is to enable the addition of a method called “add-on” to the ATMs.

“Fair enough, the current automated teller machines have the “add-on“ feature that will effortlessly make them become accustomed to coins supply, “ he said.

Head of Shared Services at CBN, Mr Chidi Umeano, said that the head bank would make sure that recently installed automated teller machine had the “add-on“ feature amongst others.

“It is actually possible to accomplish ATMs that will give out coins.

“This “add-on” feature can be triggered on the automated teller machines at any time by The Central Bank of Nigeria.

He said “ This plan is in line with our cash-less programme andalso in consonance with the The Central Bank of Nigeria’s struggle to boost Nigerians to escalate coins.

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