Nigeria: Why We Reintroduced Charges On ATM Transactions - CBN

21 August 2014

Following the reactions of bank customers to the re-introduction of charges on the use of automated teller machines (ATMs) of banks other than the card issuer, the Central Bank of Nigeria (CBN) has said the move is to ensure that customers get better service and to promote the cashless policy.

In a statement signed by its director, Corporate Communications Department, Ibrahim Mu'azu, the CBN said the removal of the N100 ATM charge had led to an increase in cash transactions and that some customers abused the use of ATMs through multiple daily withdrawals, a downside to its cashless policy.

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