The Central Bank of Nigeria (CBN) is set to introduce coin dispensing ATMs in the country so as to increase the adoption of coins for day to day transactions in Nigeria.
Speaking on the decision, Mr Chidi Umeano, Head of Shared Services at CBN said that this plan was in tune with the currency restructuring exercise.
According to him, “To achieve this plan, what is needed is to facilitate the inclusion of a process called “add-on” to the ATMs. It is very possible to achieve Automated Teller Machines that will dispense coins. Good enough, the existing ATMs have the “add-on“ feature that will easily make them adapt to coins dispensing,” he said.
“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.