CBN directs banks to refund failed ATM transactions within 48 hours – Newstrends
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CBN directs banks to refund failed ATM transactions within 48 hours

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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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NYSC extends 2025 Batch ‘C’ registration by 48 hours over network glitches

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Corps members (NYSC)

NYSC extends 2025 Batch ‘C’ registration by 48 hours over network glitches

The National Youth Service Corps (NYSC) has extended the registration period for the 2025 Batch ‘C’ mobilisation exercise by 48 hours, moving the deadline to midnight on Tuesday, November 11, 2025.

The extension follows persistent network challenges that have hampered the registration process for many prospective corps members (PCMs).

In a statement signed by Caroline Embu, Director of Information and Public Relations, the NYSC apologised for the inconvenience caused and assured affected applicants that technical teams were working “round the clock” to restore smooth operations.

“While Management regrets the inconvenience this might have caused our valued PCMs, we wish to assure all that we are working round the clock to resolve the issues and ensure they enjoy seamless registration,” the statement read.

The scheme urged prospective corps members to take advantage of the extended window to complete their registration, expressing appreciation for their patience and understanding.

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“In view of this regrettable development, Management has extended the registration period by 48 hours till midnight of Tuesday, November 11, 2025, to enable our enthusiastic PCMs conclude their registration,” the NYSC added.

Meanwhile, several PCMs have voiced frustration over the technical difficulties, with many citing failed confirmation emails and prolonged delays despite multiple attempts.

Yusuf Abubakar Umar, one of the affected applicants, wrote on Facebook:

“I’ve been trying to register since 4 a.m., and like many others, I haven’t received any confirmation email.”

Another PCM, Recheal Joseph Ani, said:

“Honestly, I was in the café since 6 a.m. today and up till now I have not gotten an email to proceed with my registration.”

The 2025 Batch ‘C’ online registration exercise initially opened on November 4 and was scheduled to close on November 9 before the extension was announced.

The NYSC reassured prospective corps members that system upgrades are ongoing to prevent a recurrence of such network disruptions in future registration exercises.

NYSC extends 2025 Batch ‘C’ registration by 48 hours over network glitches

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Give service chiefs 90 days to crush terrorists, Adeboye tells Tinubu

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Give service chiefs 90 days to crush terrorists, Adeboye tells Tinubu

The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has urged President Bola Tinubu to take decisive, wise, and diplomatic steps in addressing what he described as an alleged Christian genocide and worsening insecurity across Nigeria.

Speaking during the November Holy Ghost Service at the Redemption City campground, Adeboye advised the Federal Government to handle the situation with “balance and strategic foresight,” stressing that political and religious tensions must be approached with care.

“If I am asked to make suggestions, I will say quietly to the government to move wisely and diplomatically,” Adeboye said. “There were times in Nigeria when Christians and Muslims lived peacefully together. I have Muslim relatives and still share meals with them, but the trouble started when politics entered religion.”

The cleric revealed that he had offered private counsel to past presidents on similar issues but noted that only the Commander-in-Chief can act on such advice.

“All the presidents who were around when this trouble started, whatever I discussed with them remains confidential. I have done my best behind the scenes, but as I always say, you can only advise a Commander-in-Chief; you cannot command him. God is my witness,” he said.

Adeboye outlined what he would recommend if given another opportunity to advise the current administration.

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“If I were to advise our government, I would say: move fast, move diplomatically, and move wisely. Find a way to convince the President of America to delay his actions for about 100 days. Then, instruct our security chiefs to eliminate terrorists within 90 days or resign.”

He recalled that former President Muhammadu Buhari once gave a similar directive but failed to ensure compliance.

“Buhari once ordered the service chiefs to get rid of Boko Haram or resign, but he didn’t follow through. I asked him later why he didn’t proceed with his threat,” he recounted.

The cleric further advised Tinubu to ensure that efforts to defeat insurgents also target those funding them.

“When giving orders to the service chiefs, make it clear that they are not only to eliminate terrorists but also their sponsors, no matter how influential they may be,” he said.

Adeboye warned that Nigeria must exercise caution in its foreign relations, noting that no major power would defend the country in the event of external aggression.

“If America attacks us, China will not come to our defense. Neither will Russia or Britain. They will condemn it but do nothing,” he cautioned.

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The respected cleric expressed disappointment with what he described as misleading reports about security improvements in Nigeria, referencing a recent presidential statement.

“I almost spoke last month when I heard the speech of my in-law (Tinubu) saying all is well and displaced people had returned home. The person who wrote that speech does not like him. People around him are not telling him the truth,” he said.

Adeboye acknowledged that Tinubu inherited a deeply rooted security challenge but urged him to focus on solutions rather than rhetoric.

“Our President inherited this problem. As an applied mathematician, I am only interested in getting the problem solved,” he said.

Reiterating his call for diplomacy and accountability, Adeboye appealed to the government to seek international understanding and ensure effective leadership within the military.

“Let the government use diplomatic channels to convince Trump to give us 100 days of grace and then hold the service chiefs accountable. They must deliver within three months or resign,” he added.

He ended his message on a note of faith, expressing confidence that peace would eventually return to the country.

“God said this would be a remarkable year, even though the wind may be violent. The theme for our next Holy Ghost service is ‘Fear Not.’ One way or the other, there will be peace again in Nigeria.”

Give service chiefs 90 days to crush terrorists, Adeboye tells Tinubu

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U.S lawmaker accuses Nigeria of inaction on insecurity despite billions in assistance

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U.S lawmaker accuses Nigeria of inaction on insecurity despite billions in assistance

United States Congressman Riley Moore has issued a strong rebuke of the Nigerian government, accusing it of failing to address the country’s persistent insecurity despite receiving substantial security assistance from the U.S.

Speaking during an interview on The Dinesh D’Souza Show on Thursday night, Moore expressed deep concern over what he described as the Nigerian authorities’ silence in the face of ongoing violence against Christians. He alleged that believers are being “slaughtered for practising their faith,” and warned that the unchecked violence could have serious global repercussions.

Moore currently chairs an investigative committee established by U.S. President Donald Trump to probe the alleged persecution of Christians in Nigeria. He emphasized the urgency of international cooperation to prevent extremist groups from gaining further ground.

“My brothers and sisters in Christ are murdered for practising their faith and belief in our Lord Jesus Christ,” Moore said. “If we don’t address this, and some terrorists take hold in Nigeria, I promise you, we would have to address it one way or the other.”

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He called for a renewed partnership between the Nigerian and U.S. governments, noting that the U.S. has provided billions of dollars in security aid, including training and equipment, to help Nigeria combat terrorism and protect vulnerable communities.

“They have been paying for that, but they were also granted security assistance from the United States of America… and it has gone on unresolved,” Moore stated. “They are not prioritising the protection of the Christians.”

Moore lamented that the issue has long been neglected, saying, “It has been flying under the radar, and nobody has cared about this for a very long time.”

He concluded with a passionate appeal to uphold Christian values and protect lives, stressing that the matter transcends politics and nation-building.

The Nigerian government has yet to respond to Moore’s remarks, which come amid growing international scrutiny of religious freedom and human rights in the country.

U.S lawmaker accuses Nigeria of inaction on insecurity despite billions in assistance

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