Refund failed ATM transactions within 48 hours – CBN orders banks
[NigerianEye - Nigeria] - 12/10/2025
The Central Bank of Nigeria, CBN, has ordered Deposit Money Banks and other financial institutions to refund customers for failed Automated Teller Machine, ATM, transactions within 48 hours. This directive is in a sweeping reform aimed at protecting consumers and restoring confidence in the banking system. This is contained in a draft guideline released by the apex bank on Saturday, titled “Exposure of the Draft Guidelines on the Operations of Automated Teller Machines in Nigeria.” The document signed by the Director of Payments System Policy Department, Musa I. Jimoh, was circulated to (…)
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