Bank customers are expressing dissatisfaction as the Central Bank of Nigeria’s (CBN) new withdrawal charges took effect on Saturday, March 1, 2025.
Under the revised fee structure, commercial banks are now charging customers N100 per N20,000 withdrawal from on-site Automated Teller Machines (ATMs) and N600 for off-site ATM withdrawals.
The CBN issued a circular on February 10, 2025, to all banks and financial institutions, announcing the review of ATM transaction fees. According to the new guidelines, withdrawals from one’s own bank ATMs will remain free of charge.