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Monday 17 September 2012

CBN plans coins dispensing ATMs

The Central Bank of Nigeria (CBN) says it will facilitate the introduction of Automated Teller Machines (ATMs) that can dispense coins to encourage Nigerians imbibe the culture of spending them.

Mr Chidi Umeano, Head of Shared Services at CBN, on Monday in Lagos said that this plan was in tune with the currency restructuring exercise. He said that the coins dispensing ATMs would hasten the acceptance of coins by Nigerians and change misconception about their use.



“To achieve this plan, what is needed is to facilitate the inclusion of a process called “add-on” to the ATMs.
“Good enough, the existing ATMs have the “add-on“ feature that will easily make them adapt to coins dispensing, “ he said.
Umeano said that the apex bank would ensure that newly deployed ATMs had the “add-on“ feature among others.
“It is very possible to achieve Automated Teller Machines that will dispense coins.
“This “add-on” feature can be activated on the ATMs at any time by the CBN and this is not new because it is being practiced in advanced countries.

“This proposal is in consonance with our cash-less policy and also in line with the CBN’s effort to encourage Nigerians to appreciate coins, “he said.

Mr Dipo Fatokun, CBN Director of Banking and Payments System, had in August said that the apex bank would soon facilitate the introduction of multi-functional ATMs.
Fatokun said that such ATMs would also be able to accept deposits from customers and credit their accounts immediately.

Source: NAN

70 comments:

Anonymous said...

Hahahahaha! Just had the biggest laugh, what a good way to start the week, what a joke! I though this Sanusi fellow had some sense.

Anonymous said...

Idiot Sanusi. Waste of space.

Segun said...

These guys are high on something very pure. They simply have no clue on the direction to go and its a pity we're in their hands. They are not coming up with ATMs that can accept cash transactions. They are busy doing and saying absolute rubbish.

Anonymous said...

Awon olori ibu! Won ti ya wayray.

Dammy said...

Misplaced priority by confused leaders.Totalmente innecessario.

Nekky said...

stupid pple!!! Lamido is a cow.

Anonymous said...

these idiots are playing with fire.

AJ said...

Coins that we will spend where?
Dream world...

Ms.Bee said...

Please explain why anyone would ever opt to carry heavy coins anywhere. another situation of misplaces priorities.

When i saw it, i thought it was one of those machines you put in coins and it give you notes.

Sigh!!!backward ever

Unknown said...

banks dont even have 200 naira notes. whats d coins all about?

DITLO said...

hehehehehehehe. . . so we will now know rich from poor by what they withdraw, not how much again. . . sanusi is confused!(i wish he could see this)

Anonymous said...

The sooner the President removes this Sanusi of a guy, the better for Nigeria. Leave him there and it will take decades to reverse the damage he is inflicting on Nigeria. I don't know of what advanced country where ATMs dispense coins. Most are trying to do away with them altogether. Coins are heavy objects and are expensive to mint. In the U.S, it cost the treasury more to mint a penny than it is worth. The government there would like to do away with them if they can. Why is our case different. I don't see how much of these coins a consumer can carry around with them without it becoming a burden. Shame on this guy.

Anonymous said...

Naija and misplaced priorities, is it atm that will make people spend coins hian*. Ths Sanusi is just lookin for ways to embezzle money sha cos its millions if not billions they will use to purchase these atms now.

Anonymous said...

lol...tshwwww..so na to dey carry bucket go ATM port nau to collect coins...correct definition of BULLSHITTTT!!

Chris said...

Na today wey i sabi say na goat brain our egbons in CBN get. How many people deyuse coins for Naija?? All this is to further buttress their claim for the introduction of the N5000 Naira note. At the end of the day, na contract for the bois! Nonsense!!!

BONARIO NNAGS said...

It doesn't end at providing coins dispensing machines,they should also provide coins purchasable goods.~BONARIO~says so via NOKIA3310.

Anonymous said...

The badluck govt. should go to blazes jooooo.

Anonymous said...

Haba!! Na wa for dis Sanusi man o!!.. Why take a step forward and then take two steps backwards?? God Help us!!...........We wait!!

Anonymous said...

with the old coins or u ppl want to scatter the remaining money to coins, while the old one is valueless, by then pure water will be sold 50 naira, both ground nut and other things that is sold 10/10 naira now, abeg think of other better things to do, u ppl just want to bring out this money, to answer name like others, that is u that introduced this note or coins, without caring the impact

Anonymous said...

Sanusi is as confused as the Boko haram......

Kelvin dozie said...

Its alway funny how CBN always comes up with stuffs 2 annoy nigerians. The lowest amount that the atm machine dispense's is N500, hope they knw what they're doing. I also read latest news at
www.nigerianewshour.com

Anonymous said...

At least the younger generation will know what coin currency actually looks like....

Anonymous said...

who would want a pocket full of coins????? just thinking.

bimbo michaels said...

Selfish interest

Constitution said...

Who will accept the coins, danfo driver, pure water seller, market women, mamaput, etc. Is changing currency de issue or fixing our corrupt leaders, creating good roads, creating employment, helping people who have ideas and also helping them succeed, manufacturing industry to sell to other african countries also abroad, etc. God help us.

Anonymous said...

Na wa ohh 4 naija oooo, na wetin we go carry coins do? Coins na d problem of nigerians, dey r jst lookin 4 a way to inflate d cost of living, SMH 4 our foolish leaders.

Unknown said...

so we're supposed to be walking around with coins in our pockets??? seriously???

Anonymous said...

Misplacement of priority in d apex bank!thought they talked about bankers closing @ 4pm,that has not been implemented,they took over 3 bank to revamp n structure them approprietely,till todays those banks are been bidded for,they never addressed d incessant disengagement of bank workers and so many other pending issues,n now they are talking about currency restructuring,how can that benefit d common man,the commercial banks keep exploiting graduates on a contrct basis and nobody is talking about it.unfortunately they keep expressing their selfish desires.God help us in this country.

Anonymous said...

My thought exactly.. What can you buy for N1 in Naija?

Amkay said...

Chai, see my uncle Chidi Umeano.

Amkay said...

Chai, see my uncle Chidi Umeano.

Warri Girl said...

Just another way to chop money, Sanusi forget it, we aren't ready for coins.

Eze said...

Very soon, na to program Arabic for ATM. I laugh in Efik.

Anonymous said...

And use the coins to buy what na?

Anonymous said...

God ponish dis stupid sanusi dats all I can say.mtcheeeeeeeeeew

ESTHER said...

Stupid Sanusi, him self dey spend coin?????

Anonymous said...

Lol. True talk. I have a lot of coins in my wallet now. I don't even know how to spend it. Mtchew. If they want to bring back coins bring it back with 20,50,10 kobo 1$2 naira. Idiats goats

Anonymous said...

The ones who are well travelled already know....

Anonymous said...

What's wrong with coins?? I guess u've never travelled out of africa

Anonymous said...

what can u buy for N1 in naija? dis sanusi is just a waste of reason. even the UK dat still uses coins doesnt dispense it from ATMs, £5 note is not even dispensed from all ATMs either..na wa o..and to think he wants to introduce N5000 note, wat exactly is the point in that? he's just looking for an avenue to embezzle more money....bottomline is, we nigerians need to wake up and do sth significant..they keep doing wat they like cuz no one stands up to them..

Anonymous said...

he should introduce ATMs that accept cash, i think its only nigeria that doesnt have that...and stop looking for ways to steal our money

agatha said...

God forbid,were do I put it in my pocket or purse,nawa oh,wat an expensive joke•

valyant said...

dThis Senusi must be high on some weed... Thats an unwanted materail we dont need him

Anonymous said...

sanusi is a wasteful spender. we have lot of developmental project awaiting attension. why planning to get coins atm for coin that can only be used for little confect. jonathan agreed to print new currency for over 40bn and at the same time collecting billions of dollar loan from
china....akin

Anonymous said...

Pray thee, what will the ATM dispense? OK, coins!

What will the coins be used for?
I think to break some coconut heads at CBN!!

What a stupid joke this coin dispensing ATM bullshit is all about. These guys should get serious for once!!!

Anonymous said...

No seriously..someone needs to check! This is a case of invasion of the body snatchers. Because this Sanusi of the last few months has been implementing the dumbest policies! I literally LOL'ed when I saw this! So let's imagine that your argument is "Oh yeah, this is done in the developed world." Please tell me #wheretheydothatat!

And dude: re-multifunctional ATMs...GTBank already does that! Except they don't do cheques. Hopefully soon....catch up already! Smh!

Unknown said...

Not high on weed, they r high on cheap Gin...

Anonymous said...

Des guys r confused nd crazy.almost all aÞms no longer dispense #500 notes.they dnt want to encourage us in withdrawin small amts,bt dey wanna encourage coins,U go hear d amt of billions wey dem go budget 4 am

bos bos said...

He doesn't av 1kobo sense apparently,wat a joke of a system we av goin4us.God deliver us and bless naija!

Anonymous said...

Now they've made it clear to us that they won't stop fooling and using us. The wrath of God will sure catch up on them all. Stupid government!

Anonymous said...

I tot dis guys are well read and travelled? Where in the world have they heard of an ATM dispensing coins? Na wa o somehow for my country sha! Misplaced priorities!!! Rubbish governance.

Anonymous said...

Ok sanusi! I have educated myself properly on this new policy of urs but i still v my doubts! Atms fr dispensing coins? My banks atm (gtb) won't even fill dia atms wiv 500N notes moreless 1N... U need to tk of ur bowtie mayb its beginning to choke common sense out of u...

Anonymous said...

Smh for u Oh°˚˚˚°! ! Dts what cashless is! Go n educate urself.

Anonymous said...

After u! Mumu! Do u have what it takes to send me der! Common MEND employee like u!




Mr president

Anonymous said...

Personally i tink nigerian retailers are wicked idiots! Dey buy products at wholesale prices n den sell at wtevr price dey see fit! Me i want these coins oh §o dt i cn always say i v change!

Anonymous said...

Mua ha ha ha! I tink dt waist purse ll make a come back into fashion! Hehehhehe my back pockets ll b filled wiv em! Giving me the ass n hips i v always wanted! Toh! Sanusi dts ur plan shey

Noble said...

I thought this Sanusi guy had something upstairs. This government work is not by force, you must not be in the news always. Its obvious you have ran out of ideas.

Anonymous said...

All of you opening your mouths and criticizing Sanusi, go to London and America and carry lots of coins around. I have a change purse full of both British and American coins. Its bulky to carry but when I travel I have to use them. What's wrong with you people. What do you think you will spend when you travel? Dolts!

Eze said...

@anon 9.30am, you are trying really hard to comment with a brain, but thinking is not for you.How does US/UK currency affect our Nigerian coins in Nigeria?and what will the coins be used for?By the way I am in London,so don't misyarn.

@feistyIce_ said...

I will say dis in CAPITAL LETTERS, then maybe the Govt will undastand... WE WILL NEVER ACCEPT COINS.. I WOULD RATHER GO CASHLESS ND BUY SWEETS FROM AN ABOKI USING A POS MACHINE THAN COLLECT COINS FROM AN ATM... LMAO!!

Unknown said...

OH YEA, WE'RE ALL IN LONDON.

Anonymous said...

Lwkmd @bowtie

Unknown said...

sanusi is a madman of no forwarding address. E wans to turn d whole community to babalawo kind of setting. Make coin dey sound everywhere like sekere. Laugh don disconnet my nipples from my bra.

Unknown said...

lol

TRENDS by Bukchris said...

Am sure Mallam Sanusi has joined Oga Jona to drink Ogogoro and palm wine for him to be taking this step.

Anonymous said...

Hahahahaha Ewoooo......

Anonymous said...

What exactly would we buy with these coins?! Maybe that's what Sanusi used to buy his brain *rme*

Alicia says... said...

But this is Nigeria with a forever bad economy

Anonymous said...

Now pls tell me where did they find this aboki mallam
As the governor of central bank, this is just insane

Anonymous said...

What can u get wen a clueles presdt nd govnor ar d heads, its d same tin as d blinds leading ppl dat have clear eyes.Initialy, I tot sanusi ws brainy, dnt knw he's jst as confusd nd weak as his presdt. Sanusi has not finish d introduction of cashless policy economy bt nw he wnts 2 be using coin. Anyday u search sanusi pocket nd see 20naira worth of coin, den knw he means well 4 9ja. A totaly confused govnor. Alwys puting d cart b4 d horse. My God continue 2 deliver us 4rm d hands of dis dull,uninteligent nd criminal minded leaders dt lack integrity

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