CBN Plans to Facilitate Introduction of Coins Dispensing ATM Machines
Nigeria’s apex bank, CBN said it plans to facilitate the introduction of Automated Teller Machines (ATMs) that can dispense coins as a way to encourage Nigerians to imbibe the culture of spending them.
In the wake of the criticism that greeted the introduction of N5000 notes and redenomination of some paper currencies into coin, the president and chairman of Council, National Institute of Marketing of Nigeria, Chief Lugard Aimiuwu had told the CBN that it should encourage the citizens of the country to spend coins.
Mr Chidi Umeano, Head of Shared Services at CBN, on Monday in Lagos revealed that the bank will facilitate the introduction of coins-dispensing Automated Teller Machines (ATMs), saying that this plan was in fact in tune with the currency restructuring exercise.
Mr Umeano said that the coins dispensing ATMs would hasten the acceptance of coins by Nigerians and change misconception about their use.
In his words, “To achieve this plan, what is needed is to facilitate the inclusion of a process called “add-on… Good enough, the existing ATMs have the ‘add-on’ feature that will easily make them adapt to coins dispensing.”
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