Deputy BOJ Governor Dr. Jide Lewis says commercial banks are still struggling to have the country's 878 ATMs functioning 95% of the time or for 22 hours and 48 minutes each day, as is required by the central bank.
He says banks are also experiencing challenges in having ATMs in urban areas resuming operations within an hour after they go down.
The required period for functionality to be restored to ATMs in rural areas is within three hours after a breakdown.
Dr. Lewis notes that compliance with the ATM standards has been a long-standing challenge, as the regulations related to the uptime for ATMs has only been met once during the 13-month period, January 2024 to March 2025.
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