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

firstbankThe 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.

5 Comments

  • It is a rubbish idea introducing such things to Nigeria’s bank,definitely it will be very rubbish for me to be giving bank hundred naira

  • That is certainly what Nigeria will get for making a half-baked economist the CBN governor.A man who doesn’t understand the arithmetics of economics,oblivion of the salient intricacies of the causal variables in economics.

  • It gud to stop d N100 charge.But y did d House of Reps not stop PHCN’s N500 monthly meter charge?It moved frm N100 sraight to N500

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