Following urgent public concern, di House of Representatives don pass resolution wey call for suspension of di increase for Automated Teller Machine (ATM) transaction charges and di stopping of free ATM withdrawals for customers wey dey use oda banks for Nigeria.
Di motion wey Marcus Onobun move make House attention go di circular wey Central Bank of Nigeria (CBN) release about di matter.
Lawmakers dey worry say dis new policy go add more financial wahala for Nigerians. So, di House don tell CBN make dem suspend di policy until dem discuss am well with di committees wey concern banking, finance, and financial institutions.
On February 10, 2025, CBN announce say customers go begin pay charges anytime dem use ATM wey no belong to dia bank.
Di bank talk say di three free monthly withdrawals wey dem allow before for “remote-on-us” transactions (wey mean say person withdraw from oda bank ATM) no go dey again. Dis one dey inside Section 10.6.2 of dia Guide.
CBN direct say from March 1, 2025, banks and oda financial institutions go apply new charges.
Di policy talk say if person withdraw for ATM wey belong to dia bank, dem no go charge am. But if person use oda bank ATM, dem go charge ₦100 for every ₦20,000 wey e withdraw.
For off-site ATMs – wey no dey inside bank premises, like shopping malls, eateries, and oda public places – di charge no go pass ₦500 for every ₦20,000 wey person withdraw. Dis one go join di normal ₦100 fee wey dem go still charge.
CBN say dem adjust di charges because cost of running ATMs don high and dem wan improve di service for di kontri.
Di circular talk say di review go help increase ATM deployment and make financial institutions apply better charges for customers.
People don criticize dis new policy, but CBN insist say e go benefit both customers and commercial banks.
