The Central Bank of Nigeria (CBN) has directed banks to immediately reverse failed automated teller machine (ATM) transactions.

The apex bank said that the revised framework is designed to strengthen ATM service reliability, improve fraud monitoring, enhance security and ensure stronger consumer protection across Nigeria’s fast-growing digital payments ecosystem., tightening rules aimed at improving consumer protection and reliability across the country’s payment infrastructure.

Beyond refund timelines, the regulator introduced new requirements for ATM deployment nationwide.

All card issuers are required to deploy at least one ATM for every 7,500 payment cards issued.

The requirement will be implemented gradually over three years, with banks expected to meet 30 percent of the threshold in 2026, 60 percent in 2027 and full compliance by 2028.

Under new Guidelines on the Operations of Automated Teller Machines in Nigeria, the apex bank said failed “on-us” ATM transactions, where a customer uses the ATM of their own bank, must be reversed instantly. Where an instant reversal fails due to technical issues or system glitches, banks are required to complete a manual reversal within 24 hours.

For failed “not-on-us” transactions, where a customer uses another bank’s ATM, the refund timeline must not exceed 48 hours.

The guidelines also state that automated reversals for on-us transactions should occur in less than five minutes, while not-on-us transactions should be resolved in less than 15 minutes where automated systems function properly.

The CBN added that in cases where transaction failures arise from biometric mismatch or device errors, ATM operators must provide an immediate fallback to non-biometric verification where it is considered safe.

Such events must also be logged for diagnostics while the stipulated refund timelines are maintained.

The Central Bank also directed that ATMs must be located within reasonable proximity to one another across both urban and rural areas, while deployment, relocation or decommissioning of machines must receive prior written approval from the regulator.

The guidelines also set operational and service benchmarks for ATM operators.

Nigeria has been ranked the fourteenth country among the top 50 Most Agricultural Land in the world.

Agricultural land spans more than 18 million square miles worldwide, forming the foundation of global food production.

In a data analysed by Visual Capitalist using the most recent FAO data compiled by the World Bank, China has the most agricultural land in the world, with roughly 2.0 million square miles.

The United States (1.6 million), Australia (1.4 million), Brazil (914,000) and Russia (832,826) round out the top five countries worldwide.

Each of these countries specialises in different crops.

For example, the U.S. is the world’s largest producer of corn, while Brazil is the top grower of both soybeans and sugarcane.

Meanwhile, Australia has overcome its mostly arid geography to become a major wheat and cereals grower, rivaling major producers like India (689,000) and Ukraine (160,000).

In the data, Asia and Africa account for a large share of the top 50 countries by agricultural land area.

African countries make up nearly half of the top 50 countries worldwide by square mileage of agricultural land area. They’re led by larger countries like Sudan (435,000), South Africa (372,000), and Nigeria (268,000).

The ranking highlights where the world’s largest agricultural footprints are located, spanning major producers across Asia, Africa, and the Americas.

Each of these countries specializes in different crops.

For example, the U.S. is the world’s largest producer of corn, while Brazil is the top grower of both soybeans and sugarcane.

Meanwhile, Australia has overcome its mostly arid geography to become a major wheat and cereals grower, rivaling major producers like India (689,000) and Ukraine (160,000).

Africa’s Growing Desert ProblemAfrican countries make up nearly half of the top 50 countries worldwide by square mileage of agricultural land area.

They’re led by larger countries like Sudan (435,000), South Africa (372,000), and Nigeria (268,000).

As with peers in Eurasia and the Americas, African agriculture is increasingly facing challenges from climate change.In particular, the growing desertification problem is reducing countries’ agricultural land, especially in the Sahel region, as temperatures rise and soil becomes less fertile for growing crops.

Over-farming and over-grazing are exacerbating regional soil erosion and deepening desertification.

Oil prices rose on Monday morning as the Trump administration ramps up pressure on allies to help safeguard the Strait of Hormuz and investors react to threats facing Middle East export facilities.

According to CNBC, international benchmark Brent crude futures with May delivery traded 1.5% higher at $104.72 per barrel, paring earlier gains, while U.S. West Texas Intermediate futures with April delivery advanced 0.3% to $98.91.

U.S. crude had surpassed $100 earlier in the session.

Both contracts have surged more than 50% over the past month, reaching their highest levels since 2022, as shipping traffic through the Strait of Hormuz has been severely disrupted.

Brent closed above $100 for the first time in four years last week.

The narrow waterway is a critical energy choke point that typically carries roughly 20% of the world’s oil.