Nigeria: Mixed Reactions Trail Fresh ATM Withdrawal Fee

18 August 2014

By Kingsley Ighomwenghian, Sola Alabadan, Bamidele Ogunwusi, Celestine Okafor, Francis Onoiribholo, Gbenga Faturoti, Idongesit Ashameri, Clement Ekong and Igoniko Oduma

Yenagoa — Mixed reactions at the weekend trailed recent decision of the Central Bank of Nigeria (CBN) to reintroduce fees for withdrawing cash from third party Automated Teller Machines (ATMs).

While some bank customers lamented the development, others agree that the decision is only rational for banks and their customers to share such cost to keep the financial institutions afloat in the face of many of the operational challenges.

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