CBN increases charges for ATM withdrawals nationwide

Last updated: 2025/02/11 at 9:09 PM

starconnect Published 11 February 2025

Admin I Tuesday, February 11, 2025

ABUJA, Nigeria – The Central Bank of Nigeria, CBN has increased charges in withdrawals at Automated Teller Machines, ATMs nationwide.

According to the CBN, the new charges will take effect March 1, 2025 and that it will facilitate deployment of more ATM machines nationwide.

In a circular dated February 10,2025, the CBN said it has raised withdrawal fees at ATMs to N100 per withdrawal of N20, 000 at onsite ATMs and N100 plus a surcharge of N500 at Off-site ATMs.

However, ATMs that are operated by the customer’s bank attract no charges.

The onsite ATMs are installed within the bank premises, whereas the offsite ATMs are present in various parts of the country to ensure that people can avail the basic banking facilities without visiting a bank branch.

The CBN said the charges are to be disclosed to the customer at point of withdrawal.

TAGGED: ATM withdrawal