CBN Orders Banks to Refund Failed ATM Transactions within 24 Hours

Central Bank of Nigeria (CBN) has unveiled fresh draft guidelines that will compel banks to issue prompt refunds for failed Automated Teller Machine (ATM) transactions in a move aimed at enhancing consumer protection and restoring public confidence in electronic banking. According to the circular issued on October 9, 2025, and signed by Musa I. Jimoh,

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