Nigeria's CBN Raises ATM Card Fee to N1,500, Ends Monthly Maintenance Charges
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Reported Facts
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- •The Central Bank of Nigeria raised the ATM card fee from a lower amount to N1,500 as of April 2026.
- •Monthly maintenance charges on ATM cards have been completely removed by the CBN.
- •The policy change applies nationwide and impacts all banks regulated by the CBN.
- •The adjustment aims to balance customer costs by shifting fees from recurring monthly charges to a one-time payment.
What Could Happen If...
- ▸If Nigerian banks fully implement the new ATM card fee and abolish monthly charges bank customers may face higher initial costs but lower ongoing expenses, potentially changing how often they replace or use ATM cards.
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AFRICA
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