Another ATM charges from CBN

The Central Bank of Nigeria is fast gaining the reputation of rolling out anti – people policies. The CBN has proposed a N100 monthly charge on every debit card (ATM card) in the country. The new charge is separate from the existing N65 charge after the third withdrawal within the same month.

A monthly maintenance fee of N100 was also proposed every month for a naira dominated debit card when used, and a N50 charge for other months when the card is used or not.

Nigerians are yet to come to terms with some of their anti- poor policies like the N50 charge on every N1000 deposited on currents accounts. This policy, when it kicks off will only affect the poor. Charging N100 monthly for ATM maintenance is uncalled for and totally unnecessary.

The CBN should concentrate on other issues like banks fleecing their customers when they use their ATM for international transactions. The official exchange rate for Naira to the dollar is 199, but banks charge black market rates for international transaction. This is daylight robbery and should be stopped.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s