Given the paucity in the deployment of Automated Teller Machines (ATMs) within and off banking premises, financial experts have called for more deployment of ATMs across the country in order to enhance financial inclusion strategies.
The financial experts who spoke at a recent webinar organised by FINTECH1000+, with the theme: “What Future For ATMs In Nigeria – Death or Resurgence”, decried the limited number of ATMs deployment across the country, which they put at 22,800, a figure that is about 70,000 less than the targeted figure of over 90,000 ATMs deployment by 2020.
Speaking on the dearth of ATMs in Nigeria, the Executive Director, Infrastructure and Business Division at Inlaks, Mr. Tope Dare, said most countries like South Africa, Brazil and India, have more ATM deployments than Nigeria.
According to him, “Worldwide outlook for ATMs remains positive and expected to grow though at muted rates over the next seven to ten years when ATMs are expected to serve as bank branches of the future as banks step up branch closures. Cash remains crucial to the lives of consumers, so the deployment of more ATMs remain the most convenient and reliable channel to offer this essential service to consumers.