The Central Bank of Nigeria (CBN) has announced new charges for ATM withdrawals, ending the monthly three-free-withdrawal policy for customers using other banks’ machines.
In a circular dated February 10, 2025, and signed by the acting Director of Financial Policy and Regulation, John Onojah, the apex bank directed all banks and financial institutions to implement the new charges from March 1, 2025.
Under the new policy, customers withdrawing from their bank’s ATMs will not be charged. However, those using other banks’ ATMs will now pay ₦100 per ₦20,000 withdrawn.
