Nigerian Banks Begin Implementation Of New ATM Withdrawal Charges

The new Automated Teller Machine, ATM charges imposed on Nigerians by the Central Bank of Nigeria, CBN, came into effect on Saturday.

This follows the apex bank’s announcement on 11 February 2025 that, from 1 March 2025, N100 and N450 fees would apply to ATM withdrawals.

The CBN explained that the charges would apply to bank customers using other banks’ ATMs, whether onsite or offsite.

It stated that the N450 fee would be a surcharge for bank customers using ATMs of other banks that are not within the bank’s premises.

Meanwhile, the CBN stressed that ATM withdrawals within customers’ own banks would remain free of charge.

We observed that banks’ ATMs in the Federal Capital Territory have implemented the withdrawal charges in line with the CBN’s directive.

The President of the Bank Customers’ Association of Nigeria, Dr Uju Ogunbunka, confirmed this on Saturday.

“The ATM withdrawal charges, as announced by the CBN, have commenced. Definitely, this is another burden Nigerians have to contend with,” he said.