NEW ATM FEES KICK IN: NIGERIANS TO PAY N450 FOR WITHDRAWALS AT OTHER BANKS’ MACHINES

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Get ready to dig deeper into your pockets, Nigerians! The Central Bank of Nigeria (CBN) has officially introduced new ATM fees, and they’re already being implemented across the country.

HOW THE FEES WORK

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Here’s the lowdown: if you use an ATM from a bank that’s not your own, you’ll be charged N450 per transaction. This fee applies to both onsite and offsite ATMs. However, if you stick to your own bank’s ATMs, you won’t have to pay a thing.

BANKS ALREADY ON BOARD

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A quick survey of banks in the Federal Capital Territory reveals that many have already started charging the new fees. The President of the Bank Customers’ Association of Nigeria, Dr. Uju Ogunbunka, confirmed the development, saying, “The ATM withdrawal charges, as announced by the CBN, have commenced. Definitely, this is another burden Nigerians have to contend with.”