The House of Representatives has called on the Central Bank of Nigeria (CBN) to suspend its new policy on Automated Teller Machine (ATM) transaction charges, which includes ending free withdrawals for customers using ATMs of other banks.
This followed a motion of urgent public importance raised by Marcus Onobun, who warned that the new charges would impose additional financial burdens on Nigerians. Lawmakers urged the CBN to delay the policy until proper engagement with relevant parliamentary committees takes place.
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The CBN had announced that from March 1, 2025, customers would pay ₦100 per ₦20,000 withdrawal when using another bank’s ATM. For off-site ATMs — such as those in malls or eateries — an additional ₦500 surcharge would apply.
The apex bank cited rising costs and the need to improve ATM service efficiency as the reason for the revised charges.
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