ATM charges scrapped in Nigeria

Dec 14, 2012

Banks in Nigeria will soon be forced to stop charging ATM users who are customers with other banks.

Banks in Nigeria will soon be forced to stop charging ATM users who are customers with other banks.

Officials from bodies such as the Central Bank of Nigeria (CBN) have been keen to encourage people across the African nation to embrace alternatives to cash in recent years, This Day reports.

Removing charges from ATMs is seen as one step towards achieving this goal and boosting financial inclusion across the country.

Mallam Sanusi Lamido Sanusi, governor of CBN, confirmed that every bank will be required to remove their charges from Monday December 17th.

"We allowed some time for banks that have not configured their IT to do so and stop charging," he commented.

Mr Sanusi said that by the time the deadline arrives, people will "hopefully" not have to pay any extra customer charges.

The announcement came during a press conference following the conclusion of this year's retreat of the Bankers' Committee in Calabar.ADNFCR-2976-ID-801506971-ADNFCR