Share
Olugbemi. Adeyinka Ogunleye
1 week ago
Overview
CBN introduces new charges for ATM withdrawals
The Central Bank of Nigeria (CBN) has announced a significant overhaul of Automated Teller Machine (ATM) transaction fees, eliminating the three free monthly withdrawals previously granted to customers using other banks’ ATMs.
This new directive, outlined in a circular dated February 10, 2025, will take effect from March 1, 2025, and applies to all banks and financial institutions operating in Nigeria. The circular, signed by John S. Onojah, Acting Director of the Financial Policy and Regulation Department, was published on the apex bank’s website on Tuesday.
According to the CBN, the review aims to address rising operational costs and enhance ATM efficiency across the banking sector.
More: https://blueprint.ng/cbn-introduces-new-fee-for-atm-transactions/
