*CONTENTS OF A GENUINE ATM RECEIPT IN NIGERIA.* DAILY LAW TIPS (Tip 292) By Onyekachi Umah, Esq., LLM. ACIArb(UK)
Due to developments in electronic payment system across Nigeria, the Central Bank of Nigeria approved a format for every physical and electronic records of transactions in Nigeria from any transaction channel including ATMs, POS, Internet Payments, Mobile Payments, Physical Branch or agent.
The approved receipt formats are sufficient proof of transactions in Nigeria and as such all financial institutions must provide customers with only approved receipts.
An approved receipt from an Automated Teller Machine (ATM), must contain the following;
1. Name of the Service Provider
2. Location/Terminal Identity
3. Transaction Identity
4. Date of transaction
5. Time of Transaction
6. Transaction type
7. Sequence Number
8. Account Name
10. Personal Account Number (PAN) (But should be Masked)
11. Card Type
12. Account Type
13. Reference Number
My authorities are sections 47(4) of the Central Bank of Nigeria Act, 2007 and Approved Format of Evidence For Electronic Transactions, 2013.
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DAILY LAW TIPS
by Onyekachi Umah,Esq.
“It Is A Crime To Make A Cash Transaction Of A Sum More Than Five Million Naira In Nigeria”.