News

CNB lifting of offsite ban good news for ATM distributor

June 1, 2012

NCR Nigeria Plc should benefit from a recent reversal of the Central Bank of Nigeria policy that had prohibited banks from adding offsite ATMs.

An article by Vanguard Nigeria said that NCR Nigeria company chairman, Otunba Adekunle Ojora, expressed confidence about the company's sales prospects due to the policy reversal.

Speaking at a general meeting of the company, he said the policy had negatively affected the company's bottom line by limiting it to maintenance of existing bank machines, with minimal sales of onsite ATMs.

Ojora said that the company has seen a major improvement in sales numbers already in 2012 and that he expected the positive numbers to continue through the fiscal year. 

For more on this topic, visit the regulatory issues research center.