It, however, said despite Nigeria Deposit Insurance Corporation’s (NDIC’s) report showing that fraud cases perpetrated through the use of ATM and other card payment systems last year rose to 11.95 per cent, the percentage of users of the technology in the country far exceeded that of the United Kingdom (U.K.), and Ghana.
Its Chief Executive Officer, Mr. James Agada, who shared the outcome of an assessment it carried out, said the average ATM in Nigeria dispenses thrice the number of notes in Ghana and 10 times the number of notes in U.K.
Agada, who spoke at an ICT editors workshop organised by the technology firm at its Group Academy in Lekki, Lagos, added that though the number of ATMs deployed across the country fell short of the requirement set down by the apex bank, it has not deterred users.
“By accepted proportion, according to the CBN, we should have at least 60,000 ATMs installed but only 15,000 ATMs are available to serve the teeming population. The number of people with ATM cards keeps increasing by the day despite the shortfall in ATMs and Nigeria still ranks higher in ATM usage,” he said.
Agada, who agreed that ATMs come down with some issues, however, said these problems were overstated. “The core issue we have with the ATMs are that we don’t have enough of them and the few around are overwhelmed,” Agada added.
The CWG chief, who spoke against the background of ATM related frauds in the country, said it is not peculiar to the Nigerian environment, but was a global challenge that was receiving attention from various quarters. He said there was more security in the country than the United States of America (U.S.A.).
