The Central Bank of Nigeria has disclosed plans to roll out a new policy to regulate debit card issuance by banks as part of efforts to reduce overcrowding and frequent breakdowns at automated teller machines across the country.
The plan was announced on Friday by the CBN Governor, Yemi Cardoso, through his Special Adviser, Fatai Karim, at the 2026 Committee of Heads of Bank Operations Conference.
According to the apex bank, the proposed regulation will link the number of debit cards issued by banks to the strength of their ATM infrastructure. The move, the CBN said, is aimed at tackling persistent cash withdrawal challenges faced by customers nationwide.
The bank explained that many of the problems around cash access are caused by banks issuing more cards than their ATM networks can support, leading to long queues, machine downtime and uneven cash distribution.
“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 said.
It warned that repeated ATM failures and cash shortages were hurting public trust in electronic payment systems, even as digital banking continues to expand rapidly in Nigeria.
“When cash access fails, whether due to prolonged ATM outages or uneven distribution, the credibility of the entire payment system is weakened,” the bank added.
Karim noted that the CBN was already engaging with key players in the banking industry to fine-tune the policy, stressing that implementation could begin within a few months.
He said the apex bank expects the new debit card and ATM guidelines to take effect before the end of the second quarter of 2026.
The CBN said the policy is expected to improve ATM efficiency, ensure better cash availability and restore confidence in Nigeria’s electronic payment system, while also encouraging banks to invest more in ATM infrastructure for the benefit of customers.
