Breaking News

Offsite ATM: UBA, FBN, Diamond handover 1,116 Machines to ATM-C

Babajide Komolafe
First Bank Nigeria PLC  (FBN), UBA PLC and  Diamond Bank have handed over 1000 offsite  ATMs to ATM  Consortium (ATM-C).

The decision to the offsite ATMs to the company is in compliance with the directive of the Central Bank of Nigeria (CBN) that banned banks from deploying offsite ATMs and  requires that all banks should either handover their offisite ATMs  to consortia or relocate them to their premises on or before March 31, 2001.

ATMC is the first  Independent ATM Deployer (IAD) and operator of the QuickCash ATM network owned by a consortium of banks.  With this development, QuickCash ATM network   installed capacity has increased from 350 ATMs to 1,466. Specifically, UBA Group handed over 700 ATMs, First Bank relinquished 410 with the balance contributed by Diamond Bank.  Dr. Abdu Abubakar, First Bank, Executive Director, Banking Operations and Service who recently took over as Vice Chairman of the ATM-C board of directors, said the handover of the ATMs to the consortium is to further demonstrate the bank’s support for ATM-C. “We see this CBN policy as a revalidation of the IAD business model, which we adopted for ATM-C at inception, and therefore stand fully committed to the success of the new policy,” haffirmed.

Mr. Oladele Akinyemi, Diamond Bank, Executive Director, Customer Service & Technology who also serves as Chairman of ATM-C’s board of director said the bank sees the CBN policy as an opportunity to actualize the vision of building the largest ATM network in the region. According to him the bank looks forward to a timely completion of ATM-C’s planning processes and an early re-launch of its QuickCash services for the benefit of “our customers, bank account holders and the Nigerian consumer.”

While commenting on the handover, the Managing Director and Chief Executive Officer of ATM-C, Mr. Olumide Bajomo, said UBA, FirstBank and Diamond Bank have all blazed the trail in demonstrating compliance with the apex bank’s regulation. He expressed delight at the handover by the banks who happen to be ATM-C’s major shareholders and views the gesture as a demonstration of their commitment and endorsement of ATM-C’s repositioning plan.

“Over the next few weeks, we expect our other shareholder banks namely Zenith Bank, Fidelity Bank, Afribank, Union Bank and Wema Bank to follow suit,” he said, adding that ATM-C would soon commence the process of rebranding and deploying the QuickCash brand across the entire bank branded cash machines and ATMs that were handed.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.