The Central Bank of Nigeria (CBN) has disclosed plans to introduce a new regulatory policy linking debit card issuance to the number of deployed Automated Teller Machines (ATMs) across banks, aiming to address persistent cash access challenges.
Okay News reports that CBN Governor Mr. Yemi Cardoso, through his Special Adviser Mr. Fatai Karim, made the announcement at the 2026 Committee of Heads of Bank Operations Conference.
The policy will require banks to align card issuance volumes with corresponding investments in ATM infrastructure to reduce congestion, downtime, and uneven cash availability nationwide.
“Very soon, the Central Bank will be coming up with another policy to sanitise and improve the situation, particularly around how many cards banks issue relative to the number of ATMs they support,” the CBN stated.
Karim said the apex bank is engaging industry stakeholders and expects the policy to take effect within months, possibly before the end of the second quarter.
Nigeria’s banks have aggressively issued debit cards to promote financial inclusion and digital payments, but ATM deployment has lagged behind, leading to long queues, empty machines, and failed transactions.
Informal cash channels, such as POS operators, have filled the gaps at higher costs, despite efforts to modernise payments and improve cash circulation.
The proposed policy is expected to reshape banks’ card issuance strategies, accelerate ATM investments, and improve uptime and cash management.
Customers stand to benefit from better ATM availability and reduced transaction friction, while stronger infrastructure could decrease reliance on informal channels.
The CBN emphasised that cash remains relevant, particularly in informal markets and rural areas, with currency in circulation growing by 4.6% in December 2025 compared to December 2024.
The apex bank insists its goal is not to eliminate cash but to balance cash and digital payments, ensuring Nigerians can access cash reliably while building confidence in electronic channels.
 has disclosed plans to introduce a new regulatory policy linking debit card issuance to the number of deployed Automated Teller Machines (ATMs) across banks, aiming to address persistent cash access challenges.){kind=link}