IMPORTANCE OF PAPER JOURNAL IN ATM OPERATION IN NIGERIA

IMPORTANCE OF PAPER JOURNAL IN ATM OPERATION IN NIGERIA
It is on record today that modern day ATM has two kind of journal for capturing the transaction details – the electronic journal and the traditional paper journal. The electronic journal is the latest addition which makes the ATM information easy to manage. You read the information remotely even if it is an offsite ATM. The convenience this has created in ATM administration and dispute resolution is so enormous that most deployers has almost forgotten the importance and need in keeping the traditional paper journal.
The details on the journal are key and comprehensive to the ATM administration and operation. It keeps track of access to the sensitive part of the machine, cash analysis, fault reporting etc. It is so sensitive that the CBN guideline recently released mandated all deployers of ATM to ensure that any ATM commissioned for operation must have the full complement of the journal (ejournal and traditional paper journal).
It is worthy of note to mention here too that experience has shown that the details on the ejournal can be manipulated and the figures re-presented for fraudulent intention which creates a serious challenge for dispute resolution and arbitration. This becomes more complicated when one considers the fact that the journal is always considered as the last arbiter in ATM dispute resolution and arbitration.
It is our opinion that Banks and all independent ATM Deployers should always and at all times ensure that the traditional paper journal is carefully retrieved from the ATM and stored away in a safe and conducive place, where it will be referenced always during dispute.
Central Bank of Nigeria ATM Operation Standard and Guideline recently released this year 2010 emphasized the need and usefulness of ATM paper journal in dispute resolution and arbitration. This is not taking the fact that ejournal is also important in ATM operation but there should not be complete reliance on it especially at Arbitration level.
It is also important to say here that the deployers should ensure that the quality of papers used is such that the print will last for a long time, considering that some transactions can be disputed after 2 or even 5yrs, infact the customer wants his money at any time.
There should be dual control on the access to the journal from the retrieving of the journal from the ATM to the storing base to ensure that no part of it is lost. This is key to giving credibility to the role the journal is playing in dispute resolution.
Considering our business environment in Nigeria, where we have all manner of card faudsters, it is has become very clear now more than ever before that the Banks and the independent deployers should take conscious effort to ensure that their Traditional Paper Journal is up to date and running at all times.