The Central Bank of Nigeria (CBN) has officially introduced new Automated Teller Machine (ATM) withdrawal fees for Nigerians, effective Saturday, March 1, 2025, as reported by DAILY POST.
This change follows the CBN’s announcement on February 11, 2025, stating that a fee of N100 will be charged for ATM withdrawals, with an additional N450 fee for transactions conducted at ATMs of other banks.
According to the CBN, these charges will apply to customers using ATMs that do not belong to their own banks, regardless of whether the machines are located on or off the bank’s premises.
However, the CBN clarified that ATM withdrawals made at a customer’s own bank will continue to be free of charge.
ATMs in the Federal Capital Territory have already begun applying these new withdrawal fees in accordance with the CBN’s guidelines.
Dr. Uju Ogunbunka, the President of the Bank Customers’ Association of Nigeria, confirmed to DAILY POST on Saturday that the ATM withdrawal charges announced by the CBN have officially begun. “This is certainly another challenge that Nigerians will have to face,” he stated.
