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Nigeria’s apex bank set to stop ATM charges

The apex Central Bank of Nigeria (CBN) will from next Monday commence the enforcement of the decision to stop the 100 naira (US$0.64) being charged customers by commercial banks in the country on the use of Automated Teller Machines (ATM).

The private Guardian newspaper Monday quoted CBN Governor Sanusi Lamido Sanusi as making the assurance over the weekend.

“We have agreed on a final date of Monday 17 December, 2012, for the kick-off, which every bank will remove the charges. We allowed some time for banks that have not configured their IT infrastructure to do so and stop charging and hopefully by 17th of December, you are not going to have any customer pay additional charges,” said.

About three weeks ago, the Bankers’ Committee, comprising of Chief Executive Officer of Banks, in conjunction with the apex bank announced that it would henceforth stop charging customers who use the ATM of another bank other than theirs to withdraw money.

While the decision was hailed by many customers, the charge has continued.


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