The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct the Central Bank of Nigeria (CBN) to suspend Automated Teller Machine (ATMs) fee hike.
SERAP argued that it was unconstitutional for the CBN to go ahead with the ATM fee hike while there was a court case against the policy.
Papers News reported that the apex bank, in a circular issued on February 10, 2025, imposed ₦100 charges on cash withdrawals from ATMs of banks other than the customers’ own while withdrawals at shopping centres, airports, and standalone cash points will carry an additional surcharge of up to ₦500 per ₦20,000 withdrawal.