CBN to Introduce Coins Dispensing ATMS


The Central Bank of Nigeria has said it will facilitate the introduction of Automated Teller Machines that can dispense coins to encourage the citizens imbibe the culture of spending them.

The Head of Shared Services, CBN, Mr. Chidi Umeano, told the News Agency of Nigeria on Monday in Lagos that the plan was in tune with the currency restructuring exercise.
He said the coins dispensing ATMs would hasten the acceptance of coins by Nigerians and change the misconception about their use.

Umeano said, “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 that the apex bank would ensure that newly deployed ATMs had the add-on` feature among others.

Umeano said, “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.

Culled from PUNCH

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