Unending ATM Conundrum

THE UNENDING ATM CONUNDRUM

     

Brethren, I sincerely commend you in your entirety for your steadfastness and relentless efforts towards ensuring that the prime motive of this crusade is totally actualized in spite of the ongoing challenges. This implies that, we really comprehend the essence of this race.

       

 Ordinarily, I wouldn’t have considered coming up with this theme on today’s edition. But I thought it wise that it was high time I did, owing to the fact that disclosing my opinion on the theme in question was long overdue. Thus I decided to have a rethink in order to save us from the anticipated nervous wreck, which is tantamount to unimaginable state of doom.

   

My last trip to Lagos State ushered in a scene which I thought only existed in my home state, Imo. In fact, that of Lagos is even more alarming. Initially, I was of the view that I was only viewing a mirage, not until I walked closer to the exact spot of the scene.

   

Having parked my car at the designated spot in front of one of the commercial banks situated at Iyana-Ipaja, Lagos State, I was majestically taking a walk towards the location of the bank’s Automated Teller Machines (ATM), till my panoramic view disclosed a scene which was not unlike the just concluded Independence Day parade that took place in Abuja. My intention was to assess some cash via the ATM, but the unthinkable crowd I encountered or I sighted from afar gave me an instant discouragement.

       

 Yes my morale was instantly dampened because the fathomless number of persons, which formed an unending queue that seemed like an Independence parade, was meant to use the machines before me. Honestly, I calmly walked back to my car and drove off because I knew there was no how I could use any of the machines in less than three hours interval. I thank God for the shock absorber He imposed in my system; if not, I would have fainted at the moment I sighted that deceptive parade. Afterwards, I managed to visit other neighbouring banks for same transaction; all to no avail.

      

Let’s face the reality. It is no longer news that the use of the Automated Teller Machine, which is popularly recognized by its acronym ‘ATM’, is really giving the Nigerian society an unbearable nightmare, that if proper and drastic measure is not taken soonest by the apt authorities, the conundrum is liable to constituting a financial mayhem to the totality of the populace found in the aforementioned society. Let’s ride on!

       

Frankly, a lot needs to be done regarding the use of ATM in Nigeria. The country requires more accurate and efficient technical know-how in the country’s banking industry as regards ATM operations. Of course if we must tell ourselves the gospel truth, you will agree with me that so many challenges are currently faced by the users of the machine in question.

        

Technical irregularities or hitches such as out of service, temporarily unable to dispense cash, issuer or switch inoperative, unreasonable seizing/withholding of transaction cards, among others, which are often encountered while using the ATM must be addressed in earnest. The ridiculous technical anomalies which include debiting an account without any withdrawal made by the owner, is the most devastating aspect of the ongoing ATM conundrum in Nigeria and other developing nations.

     

The Central Bank of Nigeria (CBN) which is the mother-bank of all commercial banks in Nigeria, as well as that of other affected countries, is expected to intervene at this juncture. We have suffered greatly; therefore need the intervention of the CBN to ensure that the country’s dream of seeing an arena filled with thorough cashless banking is duly actualized.

      

Inter alia, the routine of loading torn or damaged naira notes in the machines must be put to stop by the CBN. How could notes that are meant to be burnt or replaced be loaded in the ATM thereby creating avenue for frequent circulation of torn naira notes? Does it imply that the country’s Mint and Printing section is incapacitated?

Above all, the various branches that are currently making use of only one Automated Teller Machine (ATM) must as a matter of urgency construct at least two more ones in order to decongest the banking premises/arena thereby curtailing the chances of being invaded or attacked by armed robbers.
        

The CBN alongside other concerned groups like the civil society really needs to take an urgent and severe step towards ending the various lingering abnormalities faced or practised by the commercial banks in regard to the use of ATM; else, it is likely to cost us an unavoidable setback in near future. Think about it!

 FDN NWAOZOR

frednwaozor@gmail.com  

+2348028608056

Twitter: @fdnnwaozor