ATM Usage Higher In Nigeria Compared To UK - Computer Warehouse Group Boss

A recent assessment by the
Computer Warehouse Group
(CWG) Plc has revealed that a
higher percentage of Nigerians
use the ‘Automated Teller
Machines’ (ATMs) compared to their counterparts in Ghana and
the United Kingdom (UK).
The Chief Executive Officer of
CWG, Mr. James Agada, who
spoke at an Editors’ workshop
organised by the company in shared the outcome of the
assessment and noted that the
average ATM in Nigeria
dispenses thrice the number of
notes in Ghana and 10 times the
number of notes in U.K “By accepted proportion,
according to the Central Bank of
Nigeria, we should have at least
60,000 ATMs installed but only
15,000 ATMs are available to
serve the teeming population. The number of people with ATM
cards keeps increasing by the
day, despite the shortfall in ATMs
and Nigeria still ranks higher in
ATM usage,” he said.
Agada, who agreed that ATMs come with some issues, however
said these problems are
“The core issue we have with the
ATMs are that we don’t have
enough of them and the few around are overwhelmed,” he
The CWG boss, who also spoke
against the background of ATM
related fraud in the country, said
it is not peculiar to the Nigeria environment, but a global
challenge that is receiving
attention from various quarters.
“As far as ATM security is
concerned, Nigeria is more
secured compared to places like the United States of America or
U.K. In Nigeria we have many
measures being deployed to
curb the problem of ATM-related
fraud. We also have PIN-Shield,
security cameras, mirrors, encryption technology, anti-
phishing devices fixed on the
ATM and we are not resting on
our oars,” he said.
The ICT expert, who emphasised
that no technology is completely impregnable, said: “There’s
nowhere you carry out
transactions, without the risk of
some likely fraudulent potential.
You will recall that the Central
Bank of Bangladesh was scammed and lost 80million
dollars to fraud which has gone
untraced till date.”