News
CBN directs banks to refund failed ATM transactions within 48 hours
CBN directs banks to refund failed ATM transactions within 48 hours
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks and other financial institutions to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours, in a sweeping reform aimed at protecting consumers and restoring confidence in the banking system.
The directive is contained in a draft guideline issued 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 Musa I. Jimoh, Director of the Payment System Policy Department, was distributed to banks, payment service providers, card schemes, and independent ATM deployers, with a request for stakeholder feedback by October 31, 2025.
According to the proposal, botched “on-us” transactions, in which clients utilize their own bank’s ATM, must be reversed immediately. If technical problems prohibit immediate reversal, the bank must manually repay the customer within 24 hours.
Refunds for “not-on-us” transactions using ATMs from other banks must be processed within 48 hours.
“Customers must not be made to suffer for failed transactions caused by system errors or network failures,” the circular stressed.
In a significant shift, the CBN ordered that banks and ATM acquirers use technology that automatically reverses failed or partial transactions, eliminating the need for clients to file complaints.
Institutions that hold client cash owing to unsuccessful disbursements must immediately reconcile and restore balances.
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According to the apex bank, these measures respond to popular dissatisfaction with delayed refunds and poor customer service and are part of a larger effort to strengthen consumer safety and reliability and modernize Nigeria’s payment infrastructure in accordance with global standards.
The recommendations will also restructure ATM operations across the nation. Banks and card issuers must now deploy at least one ATM for every 5,000 active cards, with staggered targets of 30% compliance in 2026, 60% in 2027, and full compliance by 2028. Any future ATM deployment, relocation, or decommissioning must first be approved by the CBN.
ATMs must be equipped with anti-skimming equipment and CCTV cameras, as well as placed in enclosed or well-lit places, to assure their safety.
Machines are expected to follow Payment Card Industry Data Security Standards, keep audit records, and provide functional helpdesk contacts. At least 2% of all ATMs must provide tactile symbols for visually challenged consumers.
ATMs must also dispense cash before returning cards, offer free PIN changes, produce receipts for all transactions except balance inquiries, display clear transaction costs, dispense only clean banknotes, and provide backup power to reduce downtime.
Downtime cannot exceed 72 consecutive hours, after which operators must notify the public of the cause and estimated restoration time.
The CBN will enforce compliance through regular audits, on-site inspections, and monthly reports from ATM operators detailing deployments and locations. Defaulting institutions may face sanctions, though fines were not specified.
The overhaul was necessary due to rising complaints about failed transactions, cyber fraud, and declining service quality. The goal is to build a payments system that works seamlessly for everyone, including urban areas.
Nigeria’s electronic payments ecosystem has expanded significantly in recent years, with 200 million cardholders and an increasing reliance on digital banking, but network failures, insufficient infrastructure, and delayed reversals have continued to erode trust.
The new guidelines, which come eight months after the modification of ATM fees, are expected to improve service delivery and transaction security and hold banks accountable.
Stakeholders are urged to provide feedback ahead of the final policy approval, which could go into effect by the end of the year.
CBN directs banks to refund failed ATM transactions within 48 hours
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News
OAU Investigates Death of Final-Year Student as Police Begin Probe
OAU Investigates Death of Final-Year Student as Police Begin Probe
Obafemi Awolowo University (OAU), Ile-Ife, Osun State, is investigating the death of a final-year student of the institution.
The student, Oluwole Oluwosegun, was studying Materials Science and Engineering at the university.
According to the university’s Public Relations Officer, Olarewaju Abiodun, the incident occurred on Tuesday afternoon at the student’s off-campus residence around the Damico area of Ooni Layout, Ile-Ife.
After receiving the report, the university’s Quick Response and Security (QRS) Team went to the location. The team also contacted the Nigeria Police, after which officers from the ‘A’ Division in Moore, Ile-Ife, joined them at the scene.
The university later took the student to its Health Centre, where a medical doctor confirmed his death.
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Police Begin Investigation
Following the incident, university authorities handed relevant information and items recovered from the scene to the police to support their investigation.
The police have since begun inquiries into the circumstances surrounding the student’s death.
Meanwhile, the university said it had informed the appropriate student affairs authorities to provide necessary follow-up, particularly regarding the welfare and emotional support of students affected by the incident.
Vice-Chancellor Professor Simeon Bamire also expressed condolences to the student’s family, friends, classmates and colleagues.
The university further encouraged students facing severe emotional distress, relationship difficulties, financial pressure or other personal challenges to seek help from trusted people and available university support services.
Professor Bamire reaffirmed the institution’s commitment to the welfare of its students and staff, stressing that no student should feel they must face overwhelming difficulties alone.
OAU Investigates Death of Final-Year Student as Police Begin Probe
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Education
Niger State Urges Local Communities to Protect Newly Completed Public Schools
Niger State Urges Local Communities to Protect Newly Completed Public Schools
Basic education officials deliver modern classrooms to help children learn safely, kicking off an ambitious statewide renovation drive.
State education leaders in Niger State are calling on neighborhood residents and parent groups to take good care of newly renovated primary schools.
On Wednesday, the head of the Niger State Universal Basic Education Board, Dr. Ibrahim A. Liman, reminded communities that public classrooms belong to everyone, warning that state funding can only make a lasting difference when local people watch over these shared spaces.
To prepare for handing over the keys, board officials visited Zango Primary School in Kontagora and Richard Lander Primary School in New Bussa. These two locations are the first to finish out of seven model schools currently under construction.

During their visits, team members inspected classrooms to make sure builders followed high safety standards, while encouraging neighbors to keep the grounds secure, tidy, and ready for pupils.
Furthermore, state officials explained that these building projects are part of a larger plan to improve early education across every community. Alongside these new classrooms, the board is starting repair work on about 400 primary schools throughout the state.
In addition to fixing desks and roofs, authorities are upgrading classroom teaching tools and supporting teachers. As a result, children across all backgrounds will have safe, welcoming spaces to learn and grow together.
Niger State Urges Local Communities to Protect Newly Completed Public Schools
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Health
Adamawa Health Officials Report 20 Deaths from Suspected Diphtheria Cases
Adamawa Health Officials Report 20 Deaths from Suspected Diphtheria Cases
Parents and caregivers are advised to seek early medical help and update childhood vaccinations as response teams expand outreach.
Health authorities in Adamawa State are responding to a diphtheria outbreak that has caused 20 deaths across 13 local government areas. Speaking on Wednesday, State Epidemiologist Jones Steven Kadabiyu confirmed that health workers have recorded 126 suspected cases throughout the state, with six patients currently receiving medical care in local hospitals.
Diphtheria is a serious bacterial illness that spreads through airborne droplets from coughing or close personal contact. It mainly affects the throat and airway, causing sore throats, mild fevers, swollen neck glands, and difficulty swallowing or breathing.
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Health officials emphasized that the biggest risk to patients has been waiting too long to visit a health center, as some families try informal remedies at home first before seeking professional medical attention.
The state government is working alongside health partners to track new cases, provide specialized antibiotics and treatments, and protect medical workers and family members.
Officials stressed that while diphtheria can affect people of any age, young children are the most vulnerable to serious complications. Parents and guardians are strongly encouraged to ensure their children are up to date on their routine vaccines and to visit the nearest clinic immediately if anyone develops throat swelling or breathing issues.
Adamawa Health Officials Report 20 Deaths from Suspected Diphtheria Cases
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