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Senate asks that CBN suspend ATM Card Maintenance Charges



Senate asks that CBN suspend ATM Card Maintenance Charges | BellaNaijaFor too long Nigerians on social media have complained about their banks deducting random figures from their accounts both monthly and annually, these charges described as “Card Maintenance Fee.”

Well, succor has come in the form of the Nigerian Senate, which has on Wednesday directed the Central Bank of Nigeria to suspend ATM Card Maintenance Charges deducted by banks.

The leader of the Nigerian Senate Bukola Saraki, shared the news on his Twitter, writing:

Today, at the Senate, we passed a resolution calling on @CenBank to suspend the excessive ATM card maintenance charges being deducted from customers.

The resolution was sponsored by Olugbenga Ashafa of Lagos East Senatorial District.

The resolution also asked that banks configure their ATM machines to dispense up to ₦40,000 per withdrawal transaction, up from the ₦20,000 they dispense today.

They directed that these be done pending “the outcome of the investigation by the Senate committees tasked with investigating the excessive and illicit bank charges.”


  1. MsSpecial

    October 17, 2018 at 9:19 pm


  2. Anon

    October 17, 2018 at 9:37 pm

    Rather rich from a body headed by a dude that ran his own father’s bank into the ground, and impoverished many depositors in the process.

    In a country where even basic public utility services and infrastructure is virtually non-existent, folks can walk to an ATM machine at practically every major street and be able to avail themselves of quick cash. But it is not cost-free. Banks have to carry the expense of maintenance, servicing, refilling those machines, the armored trucks that ferry the money around, security, etc. Please, concentrate on the public services that we pay for and do NOT receive (e.g., electric power and public education).

    • Funms

      October 18, 2018 at 10:12 am

      Thank you for this! Unfocused bunch!

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