Erik Eck pledged his allegiance to the group. At 13, he promised to adhere to the Latin Kings’ first rule: “Once a King, always a King”. Tattoos that cover his entire body express his loyalty forever to one of the largest gangs in the USA. At 36, the long-time Latin King enforcer is trying to leave. Eck wants to scrub his past. Eck wants to erase his gang tattoo. Eck wants to do this through a new gang-cessation and jobs programme he signed up for at a Chicago jail. Other 11 inmates also signed for the same programme.
The Associated Press got exclusive access over two days to the first 12 inmates. And to their cellblock. The programme is privately-funded. It is located at the DuPage County jail. For their safety, the inmates are isolated from the jail’s 500 other inmates. Half of these inmates belong to gangs.
Bigmummy, we need to use the machine to perform more functions. That is when it will become more profitable for the banks.
Eck is jailed on burglary charges. He earned the nickname Hollywood on the street for his swagger. But, as Eck changed his focus, nightmares jarred him awake for days. That was before he walked into the jail’s new tattoo-removal wing.
On the one hand
Australia is also removing its own “tattoos”. Thousands of automated teller machines have been removed in Australia. Why is this so? Aussie banks have gone digital. So, automated teller machines and bank branches across Australia are closing at a rapid rate. This is because customers have embraced digital banking. Due to this trend, the ‘Big Four’ banks have switched their focus.
As Australia accelerates towards a cashless society, the emphasis is now on digital banking. ANZ head of distribution, Kath Bray, said these changes were a clear sign of the times. While Australian banks have continued to focus on digital transactions for customers, automated teller machines and bank branches are disappearing on the streets. Data reveals close to 460 bank branches have shut down across Australia in recent years. This was in year 2020. In Australia, approximately 3,800 active automated teller machines have been removed.
Research shows that New South Wales alone has 140 fewer in-store banks. Almost 300 suburbs don’t have automated teller machines to withdraw cash. The story is similar in Victoria. Here, 120 branches have permanently closed their doors to customers. ‘Closures have a devastating impact on local communities,’ Finance Sector Union national secretary, Julia Angrisano said.
This is the flipside. Jobs are lost. Business is impacted. Another local service has disappeared. In addition, the removal of the machines means the banks are bringing in a small fortune from daily digital transactions.
The cashless environment is sprouting in Australia. So, fees from either the customers or vendors for online banking are now common place. Due to the new leaning, estimated 80 per cent of Aussies prefer to bank online. But the remaining 20 per cent, namely the disabled or those who are not digital savvy, have been left stranded.
On the other hand
Nigeria is not removing its tattoos. It is not in the same league with the Aussies. The automated teller machines is in high demand in Nigeria. Research shows that Nigeria has 8.75 automated teller machines per 100,000 people. This is because the banks are avoiding the high maintenance cost of the machines. This development has helped to shrink the number of the machine. According to data from the Nigeria Interbank Settlement System (NIBSS), the country had 18,731 active machines in 2019. The country now boasts 17,518 active machines. About 1,213 machines are defunct. Or have been removed.
Unlike the Aussies, Nigerians are attracted to the machines. For instance, the machines have assisted the banks to extend their touch points. The machines have propelled the banks to attract more customers. The machines have helped the banks’ customers to access basic banking needs. This was visible at the height of the pandemic. That was when the federal government imposed Covid-19 restrictions. Employees stayed indoors. The bank branches were closed. No one had access to the banking hall. But the machines were spewing cash. In short, data from NIBSS shows that many banks did increase their number of automated teller machines in 2021.
So, why do we have a reduction in the number of active machines? Two reasons have sufficed. The high maintenance cost of the machine is a major hurdle for the banks. The machines are expensive to procure. The machines are expensive to service. Therefore, the banks have not deployed many machines. Lately.
According to a friend who earns a living by selling automated teller machines, a button at both sides of a machine costs N80 thousand each. To service a machine, it will cost about N2 million. This is outside of power and diesel engine. The internet, hybrid inverter and security personnel that is deployed onsite. “That’s why there are less machines on the streets,” he told me.
How can we overcome this challenge?
So, why do we have a reduction in the number of active machines? Two reasons have sufficed.
Bigmummy, we need to use the machine to perform more functions. That is when it will become more profitable for the banks.
What other functions do you have in mind?
Bigmummy, I know you only make cash withdrawal at the ATM. But do you know you can make funds transfer? You can make cash deposit? You can pay electricity and water bills? You can recharge your phone. You can do…
It is okay.
Bigmummy, we can also think about manufacturing the machine in Nigeria. That way, the cost of procurement will reduce. So, we will have more machines. We will not need to remove them.
*Olaegbe ([email protected])
