Regulatory Alerts2025-02-10 | FPR/DIR/GEN/CIR/001/002Review of Automated Teller Machine Transaction Fees
The Central Bank of Nigeria has reviewed ATM transaction fees to improve efficiency and address rising costs in the banking industry. The new fees, effective March 1, 2025, include charges for on-us and not-on-us withdrawals, with specific rates for on-site and off-site ATMs, while international withdrawals will be subject to cost recovery charges. The three free monthly withdrawals previously allowed for remote-on-us transactions have been discontinued.