As commercial banks made frantic efforts last week to demobilise some of their ATMs fixed in areas dubbed by CBN undesignated, Abulwahab Isa in this review reports that the banks’ action may as well be a mere lip service against the backdrop of their current moves to appeal to the CBN to rescind its directive.

Apparently, its introduction signified an era in the banking industry: An era dubbed as a relief for the hitherto hassles, cumber-someness and energy sapping exercise that once characterised the operations of all existing banks. The invention of Automated Teller Machines (ATMs), a couple of years ago, in the Nigeria’s banking system was an innovation applauded by all. 

Everyone scored CBN high on its drive to move the banks from a regimented style toward the direction of cashless economy. Its uniqueness, simplicity and prompt access to cash withdrawals which the system affords bank’s depositors are unparalleled. 

The ATMs significantly altered Nigeria’s face of banking; removing the known long queues in the banking halls. At any time of the day, a bank customer handy with his/her ATM card is cock sure of locating an ATM to effect cash withdrawal, pay bills and transfer money electronically. 

At the last count before CBN’s March 31 deadline to the banks, the number of ATMs in the country was put in the region of 5,000. The CBN that spearheaded ATM innovation, apparently disturbed by the uncoordinated manner the installation of ATMs had assumed, issued a directive to banks aimed at controlling the spread. 

The apex bank also gave as its reason the need to protect users of banks’ ATM cards against incessant thievery. CBN directed banks to withdraw all ATMs erected in places such as hotels, airports, club houses, cinemas, shopping complexes, streets, churches and other areas considered undesignated. ATMs in banking premises are however not affected. 

CBN, in its wisdom, directed banks to hand over these off-site ATMs to three licensed independent ATM deployers for management and proper coordination. The firms are: ATM Consortium, Chams Access and Coporeti Support Service (CSS). They were mandated by the CBN to manage the offsite ATMs after the expiration of the deadline. 

The deadline for the handing over of off –site ATMs were issued twice by CBN, but on each occasion banks pleaded for extension of time. The CBN had earlier given the banks June 30, last year and they pleaded for extension. The deadline was further pushed to December 31, yet they asked for extension and a substantive deadline of March 31, was finally adopted by CBN. 

At the expiration of the last deadline, when it became apparent to the banks that CBN was not going to buy into plea for extension, some of the commercial banks started dismantling their ATMs. However, few ATMs were functioning when this reporter went round the city of Abuja to monitor compliance. 

As expected of any policy that has had a tremendous positive impact on the lives of people, holders of this innovative card that had enjoyed a seamless service, carpeted CBN for its decision. 

Abdulazeez Musa caught by Peoples Daily at the point of withdrawing cash with his ATM card at the lobby of Transcorp Hotel on a supposed CBN deadline bared his mind this way: 

“I don’t think it makes sense because it gives you access to your funds anytime, any day. So removing them from public and popular spots is not a right decision. May be they have to build a bit of security network around them, but you can’t take out the fact that it gives you access to your funds all the time. My opinion is that, it should stay. 

“We can’t be different from standard practice everywhere in the world. You have ATM everywhere and if the world has become a global village, then we must do what others do but we must do it correctly and provide accurate security not to remove it from certain locations”. 

Musa was not alone in his view as Mrs. Adebayo, who was also in the hotel that night to withdraw from one of the three ATMs in the lobby, described the CBN’s decision as misguided.

She said: “Check your time now and you see that banks have already closed and if you want to buy something and you don’t have cash at hand, you can revert to any ATM nearby and your problem gets solved. I think CBN should reverse it”. 

Same for Yunusa Abdulkadir, a 400 level student of University of Abuja. He said he was so attached to ATM card that he has lost memory when last he had cause to visit his bank to affect withdrawal. As soon as deposit alert beeps on his phone confirming a deposit from his parents, he zooms off with his ATM to withdraw. “It is a rubbish policy” he said, and called on CBN to reverse it. 

At Sahad Stores in Area 11 of Garki, Abuja, customers freely made use of designated ATMs belonging to Fidelity bank plc, and UBA to carry out their transactions. A staff of the company parried comment on why his management was still harboring ATM machines against CBN directive. 

Other off-site ATMs sighted included Skye Bank ATM positioned outside the premises of Icon Valley Accommodation located in Utako, UBA ATM at Anan World premises located at Ademola Adetokunbo, Wuse II, were still intact when our correspondent went round on the day the deadline took effect. 

The ATM facility in some bank branches located in Cedi Plaza, Sheraton Hotel and NICON Luxury Hotel, were also still functioning. 

However those installed by Zenith Bank Plc at Cedi Plaza and Reiz Continental Hotel respectively had been put out of service. 

However a CBN top official who spoke in confidence said the decision was in the best interest of banking public. 

He explained that the licensed independent ATM deployers would design software that would take care of hitches encountered in the usage of ATM adding that it would operate a central clearing system network that would correct the lapses. 

The banks, it was learnt are not relenting in their push on CBN for another extension. Will CBN accept? Time indeed will tell.