CBN may deploy 150,000 PoS, ATMs over cash-less economy

WITH the Central Bank of Nigeria (CBN) getting set for the next phase of the cash-less policy in the country, indications emerged at the weekend that the apex financial institution might target the deployment of about 150, 000 Point of Sales (PoS) terminals and increase the present Automated Teller Machines (ATMs) in the country.

Indeed, the CBN has fixed the second phase of the pilot scheme for the cash-less economy initiative for July, with focus on six more states ( Abia, Abuja, Anambra, Kano, Ogun and Rivers.)

A CBN source, who spoke to The Guardian at the weekend, but on the condition of anonymity said the apex bank was warming up seriously for the second phase of the initiative.

He said at the inception of the phase 1, which was Lagos, the CBN’s target was to have deployed 40, 000 PoS terminals last December, “but by March 2013, we exceeded that. We have over 150,000 PoS terminals now. The plan now is to double that and encourage players to deploy more ATMs in order to expand the initiative.”

Source: The Guardian