996 ATMs deployed in Nigeria
 29th NOV 2006

In spite of the growing enthusiasm of banks to promote a cashless society in Nigeria, only 996 automated teller machines have so far, been deplored by the participating banks as at October 2006.

The Executive Director, Retail Banking, United Bank for Africa Plc, Mr. Chika Mordi, who rolled out the figure in Lagos on Monday, however, noted that Nigerians would have access to a far larger number of ATMs in the early part of 2007.

Mordi, who spoke at the relaunch of Cashfast, a product of the bank, said that as more Nigerians embrace the use of ATMs, banks would be compelled to increase their investment in technology, adding that the UBA was at the verge of increasing the number of its facilities.

He explained that the relaunch of Cashfast, which was pioneered in 2000 by UBA, became necessary in view of the advice and observations of the bank’s customers.

He said that UBA was committed to taking banking services to all the nooks and crannies of the country as part of its contribution to the ongoing reforms in the banking sector.

To achieve its objectives, the bank is said to have entered into a partnership arrangement with the telecommunications giant, MTN. The synergy, according to him, will benefit the banking public at the end of the day.

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