Daily Trust (Abuja)

17 November 2012

Nigeria: 'Withdrawal of ATM Will Strengthen CBN's Cashless Policy'

Lagos — Diamond Bank said the decision of other commercial banks in Nigeria to remove the N100 ATM withdrawal would further strengthen the Central Bank of Nigeria (CBN)'s cashless policy initiative.

The Bankers' Committee at its meeting in Abuja on Monday had agreed that it shall henceforth discontinue the deduction of the N100 fee on inter-bank ATM withdrawals hence saving billions of naira for the Nigerian banking public monthly.

But Diamond bank's head corporate communications, Mrs. Ayona Aguele-Trimnell in a statement said the bank appreciated the endorsement of the initiative.

"We are glad that the Bankers' Committee has decided to embrace this initiative which Diamond bank spearheaded five months ago because we always believe that our customers' interests should be put first."

It will be recalled that in July 2012, the bank had announced the lifting of ATM withdrawal fees on transactions made at other banks' ATMs nationwide, thus making it the first bank to offer its customers this unique service.

Till date, the bank's customers have continued to freely use their Diamond debit cards on any other bank's ATMs hence saving the N100 they would have paid for each transaction.

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