The Central Bank of Nigeria (CBN) says it will facilitate the introduction of Automated Teller Machines (ATMs) that can dispense coins to encourage Nigerians imbibe the culture of spending them.
Mr Chidi Umeano, Head of Shared Services at CBN, on Monday in Lagos
said that this plan was in tune with the currency restructuring
exercise.
He said that the coins dispensing ATMs would hasten the acceptance
of coins by Nigerians and change misconception about their use.
“To achieve this plan, what is needed is to facilitate the inclusion of a process called “add-on” to the ATMs.
“Good enough, the existing ATMs have the “add-on“ feature that will easily make them adapt to coins dispensing, “ he said.
Umeano said that the apex bank would ensure that newly deployed ATMs had the “add-on“ feature among others.
“It is very possible to achieve Automated Teller Machines that will dispense coins.
“This “add-on” feature can be activated on the ATMs at any time by
the CBN and this is not new because it is being practiced in advanced
countries.
“This proposal is in consonance with our cash-less policy and also
in line with the CBN’s effort to encourage Nigerians to appreciate
coins, “he said.
Mr Dipo Fatokun, CBN Director of Banking and Payments System, had
in August said that the apex bank would soon facilitate the introduction
of multi-functional ATMs.
Fatokun said that such ATMs would also be able to accept deposits from customers and credit their accounts immediately.
(NAN)
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What nonsense don't we have 5, 10 2o,50and 100naira? How many times have we been able to withdraw these denomination in our soul called ATM? They should stop fooling themselves thinking they are fooling us okay.
ReplyDeleteSanusi is running mental, somebody help him oooo.
ReplyDeleteCBN seems not understand the thinking of the masses. The moment these notes are coined, thats all, they are no longer acceptable as means of exchange. Nigerians are not ready for coins anylonger. Common pure water, buscuit, or groundnut shall henceforth be sold for N50 or the nearest least naira note. That is the inflation we are taking about. Is like common people without economic knowledge understands economics than the so called bankers. You need to balance your academic knowledge with people's psychology. You can introduce your N5000 but dont coin N5, N10,N20 as being proposed.
ReplyDeleteBetter still, let us coinned all including N5000. Thanks.
Nigerians do not spend coins. You will be wasting precious metal by making these coins. We use plastic cards & polymers. Do not waste our time & money
ReplyDeleteJoke of the year!
ReplyDelete