Nigeria’s central bank mandates 48-hour refunds for failed ATM transactions, with faster reversals for on-us cases, effective with new security and accessibility rules.

The Central Bank of Nigeria has issued draft rules requiring banks and payment providers to refund failed ATM transactions within 48 hours, with immediate reversal for on-us transactions and manual refunds within 24 hours if instant reversal isn’t possible. Failed or partial cash withdrawals must be automatically reversed without customer complaints, and all ATMs must meet updated security, accessibility, and operational standards. The reforms, replacing outdated 2020 guidelines, aim to boost consumer protection, system reliability, and alignment with international payment standards. Stakeholders have until October 31, 2025, to provide feedback.