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Banks Invest $2.5Bn on ATMs to Decongest Banking Halls

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Sanusi Lamido Sanusi, Governor, CBN
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Money deposit banks in the country  have invested some $2.5billion in the acquisition of Automated Teller Machines (ATMs) deployed across the country at both offsite and banking premises, Nigeria CommunicationsWeek can now reveal.

Investigations revealed that as at the end of October this year there are about 12,100 active ATM performing transactions across the country at bank branches, hotels and airports.

It was gathered that the cost of ATMs are determined by their functionalities which including; mono-functional, cashless and multi-functional ATMs.

A mono-functional ATM is the type mostly deployed by banks in the country which dispenses cash as well as carry out other transactions such as payment of utility bills and cost $20,000, this type of ATM is the one mostly deployed by banks in the country.

Multi-functional ATM whose cost is between $50,000 and $100, 000 are those that aside dispensing of cash also accept cash deposit as well as cheque, there are very few of this type deployed in the country.

Cashless ATMs as the name implies does not accepts or dispense cash but rather carry out electronic payment transactions only and it costs some $3,000.

Nigeria CommunicationsWeek learnt that there are two major brands of ATMs that are deployed by banks they include, NCR and Wincor Nixdorf. More so, there are ATMs that are stand-alone which are not deployed on walls, they are mostly deployed at airports and hotels, and the type deployed on walls.

It would be recalled that ATM deployment in the country before now witnessed policy somersault when Central Bank of Nigeria (CBN) issued a directive stopping banks from deploying ATMs at offsite locations thereby mandating its licensed Independent ATM Deployers (IADs) to do so.

But, months after the expiration of the deadline IADs were reluctant to commence operation in this space due largely to issues of Cash In Transit as well as high interest banks charge IADs on funds to be loaded in the IADs owned ATMs.

CBN had to reverse its earlier directive and allow banks to operate offsite ATMs. The reversal of this policy inflicted heavy losses on the IADs who have borrowed money to deploy infrastructure as well as ATM terminal and to cushion the effect that CBN decided to find a role in the operation of offsite ATMs for the three licensed IAD, namely, ChamsAccess, ATMC and Cooperative Support Services.

Central Bank of Nigeria  had to offer Independent Automated Teller Machine Deployers (IADs) the option of becoming Terminal Service Providers in the deployment of offsite ATMs, IADs were skeptical in accepting the CBN offer expressing worry over modalities for its implementation.

They cited CBN’s inability to implement its earlier policy due to pressure from Bankers Committee who promised to collectively deploy 10,000 ATMs between July and January 2012 if the policy is reversed.

IADs believe that the Bankers Committee was determined to frustrate the smooth take of their operation. They wondered how banks that could not deploy up to 10,000 ATMs in five years will deploy such number in less than six months.

Today, banks have taken the fully responsibility of deploying ATMs at offsite locations as well as within bank premises as IADs are no longer playing any role in the ecosystem.


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E-Business

Transcorp Hotels Delivers Stellar H1 Results, Declares Over ₦1Bn Dividend

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Transcorp Hotels Plc has delivered a stellar performance in the first half of 2025, recording a 60% year-on-year surge in revenue to ₦47.57 billion, up from ₦29.72 billion in H1 2024. Gross profit climbed 71% to ₦36.21 billion, maintaining a strong 76% margin despite inflation and operational headwinds.

The hospitality giant, a subsidiary of Transnational Corporation Plc, also announced an interim dividend payout of ₦1.024 billion — offering ₦0.10 per 50 kobo ordinary share to shareholders.

In a bold move, the company unveiled Nigeria’s largest corporate venue — the 5,000-seat Transcorp Centre — staking its claim as the new leader in event hospitality. Chairman Emmanuel Nnorom described the results as proof of Transcorp Hotels’ transformative strategies and unwavering investor commitment. MD/CEO Uzo Oshogwe attributed the success to relentless execution and a resilient business model.

Transcorp Hotels, renowned for iconic assets like Transcorp Hilton Abuja and its digital platform Aura, says it isn’t just leading Nigeria’s hospitality sector — it’s redefining excellence across Africa.


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Microsoft Servers Hacked by Chinese Groups

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Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.

Microsoft Servers Hacked by Chinese Groups

 

China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.

The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.

“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.

The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.

It added that it would update its website blog with more information as its investigation continues.

Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.

Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.

Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.

A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.

“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.

Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.

Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.

It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.

Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.

 

 

 


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NIMC Warns Nigerians of Fake NIN Website

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National Identity Management Commission (NIMC) has issued a public warning that it is not associated with NINcard.com.

NIMC Warns Nigerians of Fake NIN Website

According to the commission, the website has been circulating online to offer services for Nigerians seeking National Identification Number (NIN) services.

NIMC, in a post on its official X account on Wednesday, said, “NINcard.com is not in anyway affiliated to NIMC. Stay vigilant!”

The warning was accompanied by screenshots of fake payment receipts and OTP request pages from the website, both of which were boldly stamped “FAKE” by NIMC to alert the public.


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