By Abubakar Yunusa
The Central Bank of Nigeria (CBN) says charges will now apply anytime customers use the Automated Teller Machines (ATMs) of banks other than theirs.
This was contained in a circular dated February 10, 2025, and addressed to all banks and financial institutions, the apex bank’s acting Director of Financial Policy and Regulation Department, John Onojah.
“The three free monthly withdrawals allowed for remote-on-us (other bank’s customers/not-on-us consumers) in Nigeria under Section 10.6.2 of the Guide shall no longer apply,” the circular partly read.
The apex bank said while customers withdrawing at the ATMs of their banks and financial institutions won’t be charged, customers withdrawing from the ATM of other banks would now be charged N100 per every N20,000.
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