The Central Bank of Nigeria is planning on introducing lower denomination of N200 and N100 on automated teller machines (ATMs) nationwide. “We are working towards having the mix of lower and higher denominations and we believe that this will be acceptable by Nigerians. . . We also believe it will
further enhance the use of ATMs and promote cashless policy further into the rural areas and also drive the policy of financial inclusion”, Head, Payment System Policy and Oversight Division of Banking and Payments Department of the CBN, Mr Musa Iteopa-Jimoh, said . . He added that it will serve as deterrent for those who want to withdraw huge amounts, because it will be difficult to carry huge amount from ATM points.
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