The Central Bank of Nigeria’s cash-less policy drive is facing threats as majority of the Automated Teller Machines in the country are rejecting ATM cards issued by foreign lenders for fear of possible invasion by hackers.
Sources revealed that Nigerian banks were refusing to grant access on their terminals to ATM cards issued by foreign banks.
The development, it was learnt, had made foreigners coming into the country and Nigerians, who have ATM cards issued abroad, to take their complaints to the central bank.
Top banking officials revealed that the CBN had written to all the financial institutions in the country and some payment technology firms in a bid to address the problem.
According to the sources, the development has made some of the banks to grant access to some foreign ATM cards.
Article first appeared in the Punch
This is quite ironic considering the way Nigerian banks promote using their own ATM cards abroad.