N65 ATM charge kicks off as Nigerians flay CBN

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                      atm-machine-nigeria1

As the N65 charge on extended use of other banks’ Automated Teller Machines, ATMs, reintroduced by the Central Bank, kicks off today, September 1, Nigerians have continued to react to a policy many believe is unnecessary.
Nigerians accuse the CBN of abandoning its regulatory responsibilities and taking sides with the bank to exploit customers through the policy, the CBN says the decision is aimed at curbing frivolous withdrawals and abuse by ATM users.
The new policy alters the old arrangement in which the CBN resolved with the Bankers Committee in December 2012 to transfer the payment of N100 fee on remote-on-us ATM withdrawal transactions.
On the other hand, all ATM cash withdrawals by customers on ATMs owned by their issuing banks would continue to be free.

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