Stop Banks from Charging N100 Monthly ATM Charges Now – Reps Tell CBN Governor

The House of Representatives has urged the Governor of Central Bank of Nigeria, Mallam Sanusi Lamido Sanusi, to stop Nigerian banks from introducing N100 monthly maintenance fee in the country’s banking sector.


This was sequel to a motion moved by Honourable Alliu Kazeem entitled, “urgent need to stop Nigerian Banks from introducing N100 monthly maintenance fee”.


According to him, “following the scrapping of the N100 withdrawal charges on Automated Teller Machines by the bankers’ committee, some banks are planning to introduce monthly maintenance fees on ATM cards.”

Honourable Kazeem specifically noted that, “First Bank of Nigeria Limited has informed its customers that they would pay a monthly maintenance fee on their cards with effect from March 2013,” stressing that “if this maintenance fee is introduced, it will cause untold hardship on bank customers. If this maintenance fee is introduced, it will reduce the patronage of ATMs and thus affecting adversely the financial inclusion strategy of the Central Bank of Nigeria”.

When the Speaker, Honourable Aminu Tambuwal, who presided over the plenary session put the motion to vote, it was unanimously supported by members.